Output Stabilization in EMU: IS there a Case for EFTS?

B. van Aarle; S.E. Hougaard Jensen

Output Stabilization in EMU: IS there a Case for EFTS?

B. van Aarle, S.E. Hougaard Jensen

Research Group: Economics

Research output: Working paper › Discussion paper › Other research output

411 Downloads (Pure)

Abstract

Macroeconomic performance in the Economic and Monetary Union (EMU) will be impaired if macroeconomic shocks are largely asymmetric, fiscal policy flexibility is limited, goods markets adjust sluggishly, labour mobility is low and automatic stabilization from federal taxes and government spending is low like in the EU currently.This paper addresses the question whether a system of fiscal transfers to stabilize differences in national business cycles can improve the overall macroeconomic performance in the monetary union.

Original language	English
Place of Publication	Tilburg
Publisher	Macroeconomics
Number of pages	25
Volume	1996-077
Publication status	Published - 1996

Publication series

Name	CentER Discussion Paper
Volume	1996-077

Keywords

business cycles
output
EMS
monetary policy
fiscal policy

Access to Document

77

Cite this

@techreport{3e8325d5fe074d27b487d021da7cfd5c,

title = "Output Stabilization in EMU: IS there a Case for EFTS?",

abstract = "Macroeconomic performance in the Economic and Monetary Union (EMU) will be impaired if macroeconomic shocks are largely asymmetric, fiscal policy flexibility is limited, goods markets adjust sluggishly, labour mobility is low and automatic stabilization from federal taxes and government spending is low like in the EU currently.This paper addresses the question whether a system of fiscal transfers to stabilize differences in national business cycles can improve the overall macroeconomic performance in the monetary union.",

keywords = "business cycles, output, EMS, monetary policy, fiscal policy",

author = "{van Aarle}, B. and {Hougaard Jensen}, S.E.",

note = "Pagination: 25",

year = "1996",

language = "English",

volume = "1996-077",

series = "CentER Discussion Paper",

publisher = "Macroeconomics",

type = "WorkingPaper",

institution = "Macroeconomics",

}

TY - UNPB

T1 - Output Stabilization in EMU

T2 - IS there a Case for EFTS?

AU - van Aarle, B.

AU - Hougaard Jensen, S.E.

N1 - Pagination: 25

PY - 1996

Y1 - 1996

N2 - Macroeconomic performance in the Economic and Monetary Union (EMU) will be impaired if macroeconomic shocks are largely asymmetric, fiscal policy flexibility is limited, goods markets adjust sluggishly, labour mobility is low and automatic stabilization from federal taxes and government spending is low like in the EU currently.This paper addresses the question whether a system of fiscal transfers to stabilize differences in national business cycles can improve the overall macroeconomic performance in the monetary union.

AB - Macroeconomic performance in the Economic and Monetary Union (EMU) will be impaired if macroeconomic shocks are largely asymmetric, fiscal policy flexibility is limited, goods markets adjust sluggishly, labour mobility is low and automatic stabilization from federal taxes and government spending is low like in the EU currently.This paper addresses the question whether a system of fiscal transfers to stabilize differences in national business cycles can improve the overall macroeconomic performance in the monetary union.

KW - business cycles

KW - output

KW - EMS

KW - monetary policy

KW - fiscal policy

M3 - Discussion paper

VL - 1996-077

T3 - CentER Discussion Paper

BT - Output Stabilization in EMU

PB - Macroeconomics

CY - Tilburg

ER -

Output Stabilization in EMU: IS there a Case for EFTS?

Abstract

Publication series

Keywords

Access to Document

Fingerprint

Cite this