| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP4778 |
| DP4778 Too Many to Fail - An Analysis of Time Inconsistency in Bank Closure Policies | |
| Viral Acharya; Tanju Yorulmazer | |
| 发表日期 | 2004-12-23 |
| 出版年 | 2004 |
| 语种 | 英语 |
| 摘要 | In this Paper we carry over a static version of a New Keynesian Macromodel a la Clarida Gali Gertler (1999) to a monetary union. We will show in particular that a harmonious functioning of a monetary union critically depends on the correlation of shocks that hit the currency area. Additionally a high degree of integration in product markets is advantageous for the ECB as it prevents that national real interest rates can drive a wedge between macroeconomic outcomes across member states. In particular small countries are vulnerable and therefore in need of fiscal policy as an independent stabilization agent with room to breath. |
| 主题 | International Macroeconomics |
| 关键词 | monetary policy Inflation targeting Fiscal policy Policy coordination |
| URL | https://cepr.org/publications/dp4778 |
| 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/533692 |
| 推荐引用方式 GB/T 7714 | Viral Acharya,Tanju Yorulmazer. DP4778 Too Many to Fail - An Analysis of Time Inconsistency in Bank Closure Policies. 2004. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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