Structural reforms and budget deficits in a monetary union: a strategic approach
Juan Cristobal Campoy and
Juan Negrete
UMUFAE Economics Working Papers from DIGITUM. Universidad de Murcia
Abstract:
This paper explores the interrelations between budget deficits and structural reforms in a monetary union. The analysis considers the international spillovers generated by both policies. We show that efforts to achieve fiscal policy coordination within the Eurozone reduce member countries’ incentives to carry out much-needed structural reforms. As a consequence, this cooperation can turn out to be welfare-reducting if it not extended to the implementation of structural reforms.
Keywords: Structural reforms; Budget deficits; Externalities; Coordination (search for similar items in EconPapers)
JEL-codes: D12 R23 (search for similar items in EconPapers)
Pages: 31
Date: 2009-09
New Economics Papers: this item is included in nep-cse
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Journal Article: Structural Reforms and Budget Deficits in a Monetary Union: A Strategic Approach (2010)
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Persistent link: https://EconPapers.repec.org/RePEc:mur:wpaper:5504
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