Coordination des Politiques Budgétaires dans une Union Monétaires Hétérogène: Modélisation et Application à l'UEM

Schalck, Christophe (2006): Coordination des Politiques Budgétaires dans une Union Monétaires Hétérogène: Modélisation et Application à l'UEM. Unpublished.

Abstract

This paper studies coordination of Fiscal policies in a monetary union in terms of sta- bilization performance. We use a static model of closed monetary union and numerical simulations in which macroeconomic heterogeneities are introduced. Results show that the coordination is an e¢ cient tool to increase EMU stabilization, even though coordin- ation gains greatly varies according to macroeconomic heterogeneities. We then identify coalitions and free riding behaviours.

• Item Type: MPRA Paper
• Institution: Banque de France, EconomiX
• Language: French
• Keywords: coordination; hétérogénéités; UEM
• Subjects: E - Macroeconomics and Monetary Economics > E6 - Macroeconomic Policy Formation, Macroeconomic Aspects of Public Finance, Macroeconomic Policy, and General Outlook > E61 - Policy Objectives; Policy Designs and Consistency; Policy Coordination; F - International Economics > F4 - Macroeconomic Aspects of International Trade and Finance > F42 - International Policy Coordination and Transmission; E - Macroeconomics and Monetary Economics > E6 - Macroeconomic Policy Formation, Macroeconomic Aspects of Public Finance, Macroeconomic Policy, and General Outlook > E63 - Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization