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来源类型 | Discussion paper |
规范类型 | 论文 |
来源ID | DP3398 |
DP3398 Boom-Busts in Asset Prices, Economic Instability and Monetary Policy | |
Michael Bordo; Olivier Jeanne | |
发表日期 | 2002-05-20 |
出版年 | 2002 |
语种 | 英语 |
摘要 | This Paper outlines some issues regarding the interaction of independent fiscal authorities and one central bank in the European monetary union. It points out the possibilities for coordination failures, ranging everywhere from potentially excessive deficits and free-riding problems to coordination failures in European fiscal or banking crises. As policy conclusions, some suggestions for institutional improvements are made. In particular, the Growth and Stability Pact needs strengthening rather than weakening. Furthermore, a solution for EMU-wide banking regulation needs to be found. |
主题 | International Macroeconomics |
关键词 | Emu monetary policy Fiscal policy Free-riding Monetary-fiscal policy interaction Banking crisis Fiscal crisis |
URL | https://cepr.org/publications/dp3398 |
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/532420 |
推荐引用方式 GB/T 7714 | Michael Bordo,Olivier Jeanne. DP3398 Boom-Busts in Asset Prices, Economic Instability and Monetary Policy. 2002. |
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