Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/22150
Authors: 
Carlberg, Michael
Year of Publication: 
2004
Series/Report no.: 
CeGE discussion paper 23
Abstract: 
This paper studies the interactions between monetary and fiscal policies in the euro area. The focus is on the union central bank, the German government, and the French government. The policy targets are price stability in the union, full employment in Germany, and full employment in France. The policy instruments are union money supply, German government purchases, and French government purchases. As a rule, the spillovers of fiscal policy are negative. The policy decisions are taken sequentially or simultaneously. This paper carefully discusses the case for central bank independence and fiscal cooperation between Germany and France.
Subjects: 
European Monetary Union
International Policy Coordination
Monetary Policy
Fiscal Policy
JEL: 
F33
F42
F41
E63
E12
Document Type: 
Working Paper

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