| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP414 |
| DP414 Fiscal Policy Independence in a Monetary Union | |
| Jacques MELITZ; Paul R Masson | |
| 发表日期 | 1990-04-01 |
| 出版年 | 1990 |
| 语种 | 英语 |
| 摘要 | Do plans for a monetary union in Europe call for limits on the freedom of the member countries to use fiscal policy? To provide a tentative answer, we simulate the IMF model MULTIMOD, given various shocks, in the case of a European Monetary Union consisting only of France and Germany. The results clearly indicate the possible value of allowing unfettered use of fiscal policy in both countries, The reasons lie partly in differences in the initial position of the two, partly in differences in their preferences. We also examine the change in the policy significance of the current account in the monetary union. Current account imbalances clearly cease to have the same significance in a monetary union; but they do not therefore become irreleva. |
| 主题 | International Macroeconomics |
| 关键词 | Current account European monetary union Fiscal policy Terms of trade |
| URL | https://cepr.org/publications/dp414 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/529569 |
| 推荐引用方式 GB/T 7714 | Jacques MELITZ,Paul R Masson. DP414 Fiscal Policy Independence in a Monetary Union. 1990. |
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