Macroeconomic stabilization, monetary-fiscal interactions, and Europe's monetary union

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To access the full text documents, please follow this link: http://hdl.handle.net/10230/30927

dc.contributor.author	Corsetti, Giancarlo
dc.contributor.author	Dedola, Luca
dc.contributor.author	Jarocinski, Marek
dc.contributor.author	Mackowiak, Bartosz
dc.contributor.author	Schmidt, Sebastian
dc.date	2016
dc.identifier.uri	http://hdl.handle.net/10230/30927
dc.format	application/pdf
dc.language.iso	eng
dc.relation	ADEMU Working Paper Series;58
dc.relation	info:eu-repo/grantAgreement/EC/H2020/649396
dc.rights	This is an Open Access article distributed under the terms of the Creative Commons Attribution License Creative Commons Attribution 4.0 International, which permits unrestricted use, distribution and reproduction in any medium provided that the original work is properlyattributed.
dc.rights	https://creativecommons.org/licenses/by/4.0/
dc.rights	info:eu-repo/semantics/openAccess
dc.title	Macroeconomic stabilization, monetary-fiscal interactions, and Europe's monetary union
dc.type	info:eu-repo/semantics/workingPaper
dc.description.abstract	The euro area has been experiencing a prolonged period of weak economic activity and very low inflation. This paper reviews models of business cycle stabilization with an eye to formulating lessons for policy in the euro area. According to standard models, after a large recessionary shock accommodative monetary and fiscal policy together may be necessary to stabilize economic activity and inflation. The paper describes practical ways for the euro area to be able to implement an effective monetary-fiscal policy mix.
dc.description.abstract	The ADEMU Working Paper Series is being supported by the European Commission Horizon 2020 European Union funding for Research & Innovation, grant agreement No 649396.

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