Monetary and Exchange Rate Policies of the Euro Area: Selected Issues

International Monetary Fund

No 2001/201, IMF Staff Country Reports from International Monetary Fund

Abstract: This Selected Issues paper estimates the potential output and the associated nonaccelerating inflation rate of unemployment in the euro area. The study presents a conceptual framework for analyzing currency movements, and highlights the transmission of import price shocks on consumer prices. The paper compares different measures of trend money growth, and analyzes the monetary conditions. The study describes the stability and growth pact, outlines a simple framework for studying fiscal policy behavior, and estimates European Union countries past cyclical fiscal policy responses to output growth fluctuations.

Keywords: ISCR; CR; price; reference value; fiscal policy behavior; EU country; euro area; import price; price shock; Exchange rates; Import prices; Inflation; Automatic stabilizers; Global (search for similar items in EconPapers)
Pages: 99
Date: 2001-11-06
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Citations: View citations in EconPapers (4)

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