scholarly journals Insulation Impossible: Fiscal Spillovers in a Monetary Union

2009 ◽  
Vol 2009 (30) ◽  
Author(s):  
Russell Cooper ◽  
◽  
Hubert Kempf ◽  
Dan Peled ◽  
◽  
...  
Keyword(s):  
Monetary Union ◽  
Fiscal Spillovers

scholarly journals Insulation Impossible: Fiscal Spillovers in a Monetary Union

2009 ◽  
Author(s):  
Russell Cooper ◽  
Hubert Kempf ◽  
Dan Peled
Keyword(s):  
Monetary Union ◽  
Fiscal Spillovers

scholarly journals Labour market asymmetries and shock absorption in a monetary union: are government coalitions effective?

2008 ◽  
Vol 55 (3) ◽  
pp. 325-352
Author(s):  
Cornel Oros
Keyword(s):  
Labour Market ◽  
Monetary Union ◽  
Structural Heterogeneity ◽  
Variable Geometry ◽  
Macroeconomic Stabilization ◽  
Supply Shocks ◽  
Labour Market Flexibility ◽  
Keynesian Model ◽  
Fiscal Spillovers ◽  
National Governments

Given a monetary Union which is heterogeneous at the level of labour market flexibility, this paper investigates the effects in terms of macroeconomic stabilization of the different degrees of fiscal coordination between governments. We use a static Keynesian model within a closed monetary Union and we introduce an intermediate level of coordination between the national governments, which is the variable geometry coordination between economic clubs consisting of structurally close countries. The distinction between the wide Union's welfare and each country member's individual welfare proves that the effectiveness of a variable geometry fiscal coordination mainly depends on the type of the economic shocks affecting the Union members, the nature of the fiscal spillovers, and the extent of the Union's structural heterogeneity. While this type of game is effective in neutralizing the demand shocks, it doesn't manage to improve the national protection of all the country members against the supply shocks. .

Book Reviews

2006 ◽  
Vol 56 (4) ◽  
pp. 455-468
Author(s):  
Zoltán Ádám ◽  
László Csaba ◽  
András Bakács ◽  
Zoltán Pogátsa
Keyword(s):  
Developing Countries ◽  
Fiscal Policy ◽  
Monetary Union ◽  
Economic And Monetary Union ◽  
European Studies ◽  
Eu Accession ◽  
East European ◽  
The World ◽  
The Government

István Csillag - Péter Mihályi: Kettős kötés: A stabilizáció és a reformok 18 hónapja [Double Bandage: The 18 Months of Stabilisation and Reforms] (Budapest: Globális Tudás Alapítvány, 2006, 144 pp.) Reviewed by Zoltán Ádám; Marco Buti - Daniele Franco: Fiscal Policy in Economic and Monetary Union. Theory, Evidence and Institutions (Cheltenham/UK - Northampton/MA/USA: Edward Elgar Publishing Co., 2005, 320 pp.) Reviewed by László Csaba; Piotr Jaworski - Tomasz Mickiewicz (eds): Polish EU Accession in Comparative Perspective: Macroeconomics, Finance and the Government (School of Slavonic and East European Studies, University College of London, 2006, 171 pp.) Reviewed by András Bakács; Is FDI Based R&D Really Growing in Developing Countries? The World Investment Report 2005. Reviewed by Zoltán Pogátsa

Unveiling the Theoretical Mistakes in the World Bank Formation and its Implication on Survival of Africa Monetary Union

2019 ◽  
Vol 10 (1) ◽  
pp. 119-124
Author(s):  
Olatunji Abdul Shobande ◽  
Kingsley Chinonso Mark
Keyword(s):  
World Bank ◽  
Monetary Union ◽  
Political Interest ◽  
World Bank Group ◽  
Policy Makers ◽  
The World Bank ◽  
The World ◽  
Bank Group ◽  
The Stability ◽  
Developed Nations

Abstract The quest for urgent solution to resolve the world liquidity problem has continued to generate enthusiastic debates among political economists, policy makers and the academia. The argument has focused on whether the World Bank Group was established to enhance the stability of international financial system or meant to enrich the developed nations. This study argues that the existing political interest of the World Bank Group in Africa may serve as lesson learned to other ambitious African Monetary Union.

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