Interactions between Monetary and Fiscal Policies in the Euro Area

Michael Carlberg
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Michael Carlberg: Helmut Schmidt University, Hamburg

No 48/2006, Working Paper from Helmut Schmidt University, Hamburg

Abstract: This paper studies the interactions between monetary and fiscal policies in the euro area. It carefully discusses the process of policy competition and the structure of policy cooperation. As to policy competition, the focus is on competition between the European central bank, the American central bank, the German government, and the French government. As to policy cooperation, the focus is on the same institutions. These are higher-dimensional issues. The policy targets are price stability and full employment. Special features of this paper are numerical simulations of policy competition and numerical solutions to policy cooperation.

Keywords: European Monetary Union; International Policy Coordination; Monetary Policy; Fiscal Policy (search for similar items in EconPapers)
JEL-codes: E63 F33 F41 F42 (search for similar items in EconPapers)
Pages: 38 pages
Date: 2006-03
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Persistent link: https://EconPapers.repec.org/RePEc:ris:vhsuwp:2006_048

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