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Fiscal-monetary crosswinds in the euro area | VOX, CEPR Policy Portal


The topic of coordination between monetary and fiscal policy has become the focus of policy discussion in recent years (Draghi 2014, Lagarde 2020, Schnabel 2021). One reason is that there is limited space for traditional monetary policy based on steering the short-term interest rate when the latter is at (or close to) the effective lower bound (ELB). Many recent papers have advocated mechanisms to implement a coherent a monetary-fiscal policy mix (see, for example, the policy report by Barsch et al. 2021).
Empirically, there is limited knowledge about how the combination of monetary and fiscal policy affects inflation. This is a complex topic since there are multiple channels of interaction. Monetary policy, by affecting interest rates, output, and inflation, has an impact on the government’s budget constraint. The response of fiscal authorities via the adjustment of the primary deficit depends on the fiscal framework or the stabilisation objectives of fiscal authorities. Th ....

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Remarks by Commissioner Gentiloni at the Eurogroup press conference

Remarks by Commissioner Gentiloni at the Eurogroup press conference
europa-nu.nl - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from europa-nu.nl Daily Mail and Mail on Sunday newspapers.

Janet Yellen , Niels Thygesen , Secretary Yellen , Professor Niels Thygesen , European Fiscal Board , Resilience Facility , Member States , ஐரோப்பிய நிதி பலகை , விரிதிறன் வசதி , உறுப்பினர் மாநிலங்களில் ,

Euro fiscal watchdog endorses suspension of Stability Pact in 2022

Euro fiscal watchdog endorses suspension of Stability Pact in 2022
euractiv.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from euractiv.com Daily Mail and Mail on Sunday newspapers.

Niels Thygesen , International Monetary Fund , European Fiscal Board , Growth Pact , European Fiscal Broad , சர்வதேச பண நிதி , ஐரோப்பிய நிதி பலகை , வளர்ச்சி ப்யாக்ட் ,