scholarly journals Monetary and Fiscal Policy Interaction in the Euro Area with Different Assumptions on the Phillips Curve

2003 ◽  
Author(s):  
Peter Bofinger ◽  
Eric Mayer
Keyword(s):  
Fiscal Policy ◽  
Euro Area ◽  
Phillips Curve ◽  
Policy Interaction ◽  
Monetary And Fiscal Policy

scholarly journals Das Kaninchen vor der Schlange

2001 ◽  
Vol 31 (125) ◽  
pp. 637-648
Author(s):  
Hansjörg Herr
Keyword(s):  
Fiscal Policy ◽  
Euro Area ◽  
World Economy ◽  
Western World ◽  
Stability And Growth Pact ◽  
Growth Pact ◽  
Liberal Ideology ◽  
The Usa ◽  
The Stability ◽  
Monetary And Fiscal Policy

The terrorattack hit the western world in a situation of a sharp cyclical downturn in the USA, Europe and Japan. Mainly because of increased uncertainty the downturn will be intensified by the attack. Immediately after the attack US monetary and fiscal policy became even more expansive. In Europe monetary policy reacted very reluctantly. Active fiscal policy in the Euro-area is nearly not existing as the Stability and Growth Pact as well as neo-liberal ideology prevents fiscal measures. The inactive economic policy in the Euro-area is not only dangerous for Europe but also a depressing factor for the world economy.

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