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Autor:innen: 
Erscheinungsjahr: 
2012
Schriftenreihe/Nr.: 
Discussion paper No. 82
Verlag: 
Aboa Centre for Economics (ACE), Turku
Zusammenfassung: 
This paper deals with problems of fiscal consolidation and policy coordination within the European Monetary Union. In the first place, it investigates the potential problems which are caused by cross-country differences in key fiscal parameters and the asymmetric nature of these parameters. In the light of these findings, the pros and cons of policy coordination is evaluated using some alternative multi-country estimates as a point of reference. The empirical results clearly show that policy coordination within the EMU context is difficult because of these large country differences and asymmetries in the transmission mechanisms of fiscal policy. Even so, it is shown that policy coordination clearly pays off.
Schlagwörter: 
Fiscal policy
policy coordination
government deficit
EMU
JEL: 
H62
E61
E63
Dokumentart: 
Working Paper

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