المستودع الأكاديمي جامعة المدينة

Fiscal Policy Rules for Stabilisation and Growth : A Simulation Analysis of Deficit and Expenditure Targets in a Monetary Union

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dc.creator Brück, Tilman
dc.creator Zwiener, Rudolf
dc.date 2004
dc.date.accessioned 2013-10-16T06:58:34Z
dc.date.available 2013-10-16T06:58:34Z
dc.date.issued 2013-10-16
dc.identifier http://hdl.handle.net/10419/18163
dc.identifier ppn:389380407
dc.identifier.uri http://koha.mediu.edu.my:8181/xmlui/handle/10419/18163
dc.description We analyse the effectiveness of fiscal policy rules for business cycle stabilisation in a monetary union using a quarterly macro-econometric model of Germany. The simulations compare a deficit target and an expenditure target under a range of supply, demand and fiscal shocks. Their effects are evaluated by their impact on prices and output. The analysis demonstrates that in general the deficit target of the stability pact leads to less stabilisation than an expenditure target. The results suggest that the deficit rule of the stability pact should be replaced with an expenditure rule augmented by medium-term debt targets.
dc.language eng
dc.publisher Deutsches Institut für Wirtschaftsforschung (DIW) Berlin
dc.relation DIW-Diskussionspapiere 427
dc.rights http://www.econstor.eu/dspace/Nutzungsbedingungen
dc.subject F42
dc.subject E62
dc.subject E37
dc.subject ddc:330
dc.subject fiscal policy
dc.subject international policy coordination
dc.subject simulation
dc.subject Antizyklische Finanzpolitik
dc.subject EU-Stabilitätspakt
dc.subject Währungsunion
dc.subject Wirtschaftspolitische Wirkungsanalyse
dc.subject Simulation
dc.subject Haushaltsdefizit
dc.subject Öffentliche Ausgaben
dc.subject Schätzung
dc.subject Deutschland
dc.title Fiscal Policy Rules for Stabilisation and Growth : A Simulation Analysis of Deficit and Expenditure Targets in a Monetary Union
dc.type doc-type:workingPaper


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