Alternative Fiscal Policy Rules and the Stabilization Problem in EMU: Theory and Simulations

Jorge Uxó and M. Jesús Arroyo

Chapter 8 in Advances in Monetary Policy and Macroeconomics, 2007, pp 123-157 from Palgrave Macmillan

Abstract: Abstract For European countries, having relinquished their monetary policy autonomy and the possibility of modifying bilateral nominal exchange rates, monetary union has represented a redefinition of the principal instruments associated with stabilization. This has given rise to the problem of the possible loss of stabilization capacity by EMU economies.

Keywords: Monetary Policy; Central Bank; Fiscal Policy; Inflation Rate; Real Exchange Rate (search for similar items in EconPapers)
Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-80076-2_8

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DOI: 10.1057/9780230800762_8

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