Ekonomicheskaya politika最新文献_第7页

IF 0.5

Ekonomicheskaya politika Pub Date : 2022-01-01 DOI: 10.1093/epolic/eiac026

引用次数: 1

The fiscal–monetary policy mix in the euro area: challenges at the zero lower bound 欧元区的财政-货币政策组合：零下限的挑战

IF 0.5

Ekonomicheskaya politika Pub Date : 2021-04-12 DOI: 10.1093/EPOLIC/EIAA017

Athanasios Orphanides

{"title":"The fiscal–monetary policy mix in the euro area: challenges at the zero lower bound","authors":"Athanasios Orphanides","doi":"10.1093/EPOLIC/EIAA017","DOIUrl":"https://doi.org/10.1093/EPOLIC/EIAA017","url":null,"abstract":"This paper explores the reasons for the suboptimal fiscal-monetary policy mix in the euro area in the aftermath of the global financial crisis and ways in which the status quo can be improved. A comparison of fiscal and monetary policies and of economic outcomes in the euro area and the United States suggests that both fiscal and monetary policy in the euro area have been overly tight. Fiscal policy has been hampered by the institutional framework which constrains individual states and lacks instruments to secure an appropriate aggregate stance. ECB monetary policy has been hampered by the distributional effects of balance sheet policies which needed to be adopted at the zero lower bound, and by discretionary decisions taken before the crisis such as the reliance on credit rating agencies for determining collateral eligibility for monetary operations. The compromising of the \"safe asset\" status of euro area sovereign debt during the crisis complicated fiscal and monetary policy. Changes in the discretionary decisions governing the implementation of monetary policy in the euro area can potentially reduce the distributional effects of policy and improve the fiscal-policy mix and longer-term prospects for the euro area.","PeriodicalId":43996,"journal":{"name":"Ekonomicheskaya politika","volume":"35 1","pages":"461-517"},"PeriodicalIF":0.5,"publicationDate":"2021-04-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42864914","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 4

An Endogenous Emissions Cap Produces a Green Paradox 内生排放上限产生绿色悖论

IF 0.5

Ekonomicheskaya politika Pub Date : 2021-03-19 DOI: 10.1093/EPOLIC/EIAB011

R. Gerlagh, R. Heijmans, K. E. Rosendahl

引用次数: 25

The link between regional temperature and regional incomes: Econometric evidence with Sub-National data 区域温度与区域收入之间的联系:次国家数据的计量经济学证据

IF 0.5

Ekonomicheskaya politika Pub Date : 2021-02-11 DOI: 10.1093/EPOLIC/EIAB007

Christina Greßer, Daniel Meierrieks, D. Stadelmann

引用次数: 0

Fewer guns, less crime: evidence from Brazil 更少的枪支，更少的犯罪：来自巴西的证据

IF 0.5

Ekonomicheskaya politika Pub Date : 2021-02-04 DOI: 10.1093/EPOLIC/EIAB005

Rodrigo Schneider

引用次数: 3

Redesigning EU fiscal rules: from rules to standards 重新设计欧盟财政规则:从规则到标准

IF 0.5

Ekonomicheskaya politika Pub Date : 2021-01-28 DOI: 10.1093/EPOLIC/EIAB003

O. Blanchard, Álvaro Leandro, Jeromin Zettelmeyer

{"title":"Redesigning EU fiscal rules: from rules to standards","authors":"O. Blanchard, Álvaro Leandro, Jeromin Zettelmeyer","doi":"10.1093/EPOLIC/EIAB003","DOIUrl":"https://doi.org/10.1093/EPOLIC/EIAB003","url":null,"abstract":"\u0000 European Union (EU) fiscal rules have been suspended until at least the end of 2021. When they are reinstated, they will need to be modified, if only because of the high levels of debt. Various proposals have been made and more are to come, suggesting various changes and simplifications. In this paper, we take a step back and discuss how one should think about debt sustainability in the current and likely future EU economic environment. We argue that, given the complexity of the answer, it is an illusion to think that EU fiscal rules can be simple. But it is also an illusion to think that they can ever be complex enough to accommodate most relevant contingencies. This leads us to propose the abandonment of fiscal rules in favor of fiscal standards, that is, qualitative prescriptions that leave room for judgement together with a process to decide whether the standards are met. Central to this process would be country-specific assessments using stochastic debt sustainability analysis , led by national independent fiscal councils and/or the European Commission. Disputes between member states and the European Commission on application of the standards should preferably be adjudicated by an independent institution, such as the European Court of Justice(or a specialized chamber), rather than by the Council of the EU.","PeriodicalId":43996,"journal":{"name":"Ekonomicheskaya politika","volume":" ","pages":""},"PeriodicalIF":0.5,"publicationDate":"2021-01-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1093/EPOLIC/EIAB003","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43883055","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 81

Northern Caucasus: Choosing Strategic Landmarks 北高加索:选择战略地标

IF 0.5

Ekonomicheskaya politika Pub Date : 2021-01-01 DOI: 10.18288/1994-5124-2021-3-112-137

I. Starodubrovskaya, K. Kazenin, Daniil Sitkievich

引用次数: 4

Financial Repression and Financial Sector Effi ciency in a General Equilibrium Model 一般均衡模型下的金融抑制与金融部门效率

IF 0.5

Ekonomicheskaya politika Pub Date : 2021-01-01 DOI: 10.18288/1994-5124-2021-3-44-81

M. Elkina

引用次数: 1

OUP accepted manuscript OUP接受稿件