Uncertainty and fiscal policy in an asymmetric monetary union

Uncertainty and fiscal policy in an asymmetric monetary union

We examine monetary and fiscal interactions in a monetary union model with uncertainty due to imperfect central bank transparency. It is first shown that monetary uncertainty discourages excessive taxation and may thus reduce average inflation and output distortions. However, as countries enter...

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Bibliografiske detaljer
Udgivet i:MAGKS - Joint Discussion Paper Series in Economics (Band 13-2009)
Autoren: Hefeker, Carsten, Zimmer, Blandine
Format: Arbeit
Sprog:engelsk
Udgivet: Philipps-Universität Marburg 2009
Fag:
Wirtschaft
Monetary union
asymmetries.
fiscal policy
transparency of monetary policy,
Economics
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