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dc.contributor.authorHohberger, Stefanen_US
dc.contributor.authorHerz, Bernharden_US
dc.date.accessioned2012-11-07T14:06:14Z-
dc.date.available2012-11-07T14:06:14Z-
dc.date.issued2012en_US
dc.identifier.urihttp://hdl.handle.net/10419/66054-
dc.description.abstractThe paper examines the stabilizing properties of fiscal policy for current account imbalances under alternative exchange rate regimes. Using a small open economy DSGE model with fiscal feedback rules, we investigate the dynamic responses of different shocks to macroeconomic variables and their implication for the current account. Our results imply that a fiscal response to the current account improves the stabilizing effect of most macroeconomic variables compared to a countercyclical response to output. The loss of national monetary policy when entering into a monetary union leads to higher variability and more persistence of the real exchange rate and the current account. Despite the stabilizing properties, fiscal policy intervention induces higher variability of output in the short-run and therefore faces a trade-off between stabilizing the external position and outputen_US
dc.language.isoengen_US
dc.publisherZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften, Leibniz-Informationszentrum Wirtschaft Kiel und Hamburgen_US
dc.relation.ispartofseriesBeiträge zur Jahrestagung des Vereins für Socialpolitik 2012: Neue Wege und Herausforderungen für den Arbeitsmarkt des 21. Jahrhunderts - Session: Fiscal Policy I A11-V2en_US
dc.subject.jelE62en_US
dc.subject.jelF41en_US
dc.subject.jelE61en_US
dc.subject.ddc330en_US
dc.titleFiscal Policy, Monetary Regimes and Current Account Dynamicsen_US
dc.typeConference Paperen_US
dc.identifier.ppn730578674-
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
dc.identifier.repecRePEc:zbw:vfsc12:66054-
Appears in Collections:Jahrestagung des Vereins für Socialpolitik 2012: Neue Wege und Herausforderungen für den Arbeitsmarkt des 21. Jh.

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