Abstract
Original language | English |
---|---|
Pages (from-to) | 226-248 |
Journal | Journal of Economic Surveys |
Volume | 32 |
Issue number | 1 |
Early online date | 1 Feb 2017 |
DOIs | |
Publication status | Published - Feb 2018 |
Externally published | Yes |
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Keywords
- Economic shocks
- Policy mix
- Monetary union
- Monetary and fiscal policies interaction
- EMU
Cite this
Monetary and Fiscal Policies Interaction in Monetary Unions. / Foresti, Pasquale.
In: Journal of Economic Surveys, Vol. 32, No. 1, 02.2018, p. 226-248.Research output: Contribution to journal › Article
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TY - JOUR
T1 - Monetary and Fiscal Policies Interaction in Monetary Unions
AU - Foresti, Pasquale
PY - 2018/2
Y1 - 2018/2
N2 - In this paper, the literature on the interaction between monetary and fiscal policies in a monetary union is surveyed. By adopting the concept of symbiosis as a starting point, the paper highlights the importance of uncertainty, policy makers' preferences and targets. Then, the role of commitment to policy rules and coordination is addressed. The analysis also focuses on the importance of the data considered for the generation of the policy mix. As a final step, the paper discusses the main results in the literature on public debt management in a monetary union. All the reported theoretical results are then adopted to retrieve policy and institutional implications for the European Monetary Union.
AB - In this paper, the literature on the interaction between monetary and fiscal policies in a monetary union is surveyed. By adopting the concept of symbiosis as a starting point, the paper highlights the importance of uncertainty, policy makers' preferences and targets. Then, the role of commitment to policy rules and coordination is addressed. The analysis also focuses on the importance of the data considered for the generation of the policy mix. As a final step, the paper discusses the main results in the literature on public debt management in a monetary union. All the reported theoretical results are then adopted to retrieve policy and institutional implications for the European Monetary Union.
KW - Economic shocks
KW - Policy mix
KW - Monetary union
KW - Monetary and fiscal policies interaction
KW - EMU
U2 - 10.1111/joes.12194
DO - 10.1111/joes.12194
M3 - Article
VL - 32
SP - 226
EP - 248
JO - Journal of Economic Surveys
JF - Journal of Economic Surveys
SN - 0950-0804
IS - 1
ER -