| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP11372 |
| DP11372 Flexibility versus stability. A difficult trade-off in the Eurozone | |
| Paul De Grauwe; Yuemei Ji | |
| 发表日期 | 2016-07-02 |
| 出版年 | 2016 |
| 语种 | 英语 |
| 摘要 | The optimal currency areas (OCA) theory has been influential in pushing eurozone countries towards structural reforms to make product and labour markets more flexible. The underlying assumption of the OCA prescription for structural reform is that asymmetric shocks are permanent. However, when shocks are temporary it does not follow that more flexibility is the answer. When shocks are the result of business cycle movements, the way to deal with them is by stabilisation efforts. We provide empirical evidence that suggests that the biggest shocks in the eurozone were the result of business cycle movements. These were relatively well synchronised, except for their amplitude. We argue that efforts to stabilise the business cycles should be strengthened relative to the efforts that have been made to impose structural reforms, and consider the implications for the governance of the eurozone. |
| 主题 | International Macroeconomics and Finance |
| 关键词 | Optimal currency areas Structural reforms Business cycles |
| URL | https://cepr.org/publications/dp11372 |
| 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/540186 |
| 推荐引用方式 GB/T 7714 | Paul De Grauwe,Yuemei Ji. DP11372 Flexibility versus stability. A difficult trade-off in the Eurozone. 2016. |
| 条目包含的文件 | 条目无相关文件。 | |||||
| 个性服务 |
| 推荐该条目 |
| 保存到收藏夹 |
| 导出为Endnote文件 |
| 谷歌学术 |
| 谷歌学术中相似的文章 |
| [Paul De Grauwe]的文章 |
| [Yuemei Ji]的文章 |
| 百度学术 |
| 百度学术中相似的文章 |
| [Paul De Grauwe]的文章 |
| [Yuemei Ji]的文章 |
| 必应学术 |
| 必应学术中相似的文章 |
| [Paul De Grauwe]的文章 |
| [Yuemei Ji]的文章 |
| 相关权益政策 |
| 暂无数据 |
| 收藏/分享 |
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
