Monetary Union and the Role of Automatic Stabilizers

1997 ◽  
pp. 109-147 ◽  
Author(s):  
Kenneth M. Kletzer ◽  
Willem H. Buiter
Keyword(s):  
Monetary Union ◽  
Automatic Stabilizers

scholarly journals The Role of Fiscal Policy in a Monetary Union: are National Automatic Stabilizers Effective?

2008 ◽  
Vol 16 (3) ◽  
pp. 591-610 ◽  
Author(s):  
Andrea Colciago ◽  
Tiziano Ropele ◽  
V. Anton Muscatelli ◽  
Patrizio Tirelli
Keyword(s):  
Fiscal Policy ◽  
Monetary Union ◽  
Automatic Stabilizers

scholarly journals The Role of Fiscal Policy in a Monetary Union: Are National Automatic Stabilizers Effective?

2006 ◽  
Author(s):  
Andrea Colciago ◽  
Vito Anton Muscatelli ◽  
Tiziano Ropele ◽  
Patrizio Tirelli
Keyword(s):  
Fiscal Policy ◽  
Monetary Union ◽  
Automatic Stabilizers

scholarly journals The role of automatic stabilizers in business cycle: the case of indonesia

2021 ◽  
Vol 10 (2) ◽  
pp. 167-184
Author(s):  
Haryo Kuncoro
Keyword(s):  
Fiscal Policy ◽  
Standard Model ◽  
Policy Instrument ◽  
Economic Stability ◽  
Fiscal Stimulus ◽  
Quarterly Data ◽  
Discretionary Fiscal Policy ◽  
The Impact ◽  
Automatic Stabilizers

TThe use of large fiscal stimulus packages to dampen the impact of Covid-19 recently has raised concerns about the effectiveness of the discretionary fiscal policy. This paper aims at analysing the feasibility of automatic fiscal stabilisers to mitigate economic fluctuations in the case of Indonesia. Using the IMF standard model for quarterly data over the period of 2001(1) to 2019(4), we find that the role of automatic fiscal stabilisers is getting greater both in revenue and spending. This implies that the automatic fiscal stabilisers are feasible as the main fiscal policy instrument for economic stability goals in the future. However, given the existing circumstances, Indonesia has to reform economic, regulatory, and institutional ecosystems in adopting the automatic fiscal stabilisers.

The Role of Wage Policy after the Introduction of Monetary Union

1999 ◽  
pp. 23-80
Author(s):  
Gustav A. Horn ◽  
Wolfgang Scheremet ◽  
Rudolf Zwiener
Keyword(s):  
Monetary Union ◽  
Wage Policy

scholarly journals Ordoliberalism, European Monetary Union and State Power

2019 ◽  
Vol 45 (7-8) ◽  
pp. 995-1010
Author(s):  
Werner Bonefeld
Keyword(s):  
Monetary Union ◽  
World Market ◽  
Member States ◽  
Contemporary Debate ◽  
Democratic State ◽  
History Of ◽  
Capitalist State ◽  
The Many ◽  
Market Relations

The capitalist state is the indispensable power of a free labor economy. Its class character is not founded on a national basis. Rather it is founded on the world market relations of capitalist wealth and includes a history of suffering. This article scrutinizes ordoliberalism as a veritable statement about the character of capitalist society and its state. In the contemporary debate about the ordoliberalization of Europe, the ordoliberal argument about capitalist labor economy as a practice of government is put aside and instead it is identified with a certain ‘German’ preference for austerity and seemingly also technocratic governance, undermining the European democracies and leading to calls for the resurgence of the national democratic state that governs for the many. In this argument illusion dominates reality. In distinction, the argument attempted here scrutinizes the role of the member states in monetary union as executive states of the bond that unites them. Monetary union strengthens the member states as ‘planners for competition’ and is entirely dependent upon their capacity to govern accordingly.

Ambivalent German narration towards economic problems of eurozone in the light of constructivist approach

2019 ◽  
Vol 3 ◽  
pp. 83-101
Author(s):  
Justyna Bokajło
Keyword(s):  
National Identity ◽  
Economic Crisis ◽  
Monetary Union ◽  
The Other ◽  
Economic And Monetary Union ◽  
Constructivist Approach ◽  
Economic Problems ◽  
Ambivalent Attitude

The European financial and economic crisis made Germany a leader trying to introduce the principles of order to the Economic and Monetary Union in line with the ideas of German governance policy (Ordnungspolitik), which is explained by ordoliberalism. However, there is strong relativism visible in constructing European reality, resulting from the fact that the adopted ordoliberal assumptions do not fit into the macroeconomic, diversified space of the eurozone, and, what is more, cannot be implemented during the recession, because their effectiveness is determined by the long-term perspective and national identity. Moreover, the role of the leader does not comply with the principles of Ordnungspolitik. On the other hand, the partnership with France, which is necessary to maintain stability of the eurozone, causes a move away from the conceptual assumptions of ordoliberalism. The aim of the article is to draw attention to Germany’s ambivalence in solving the economic problems of EMU, as well as to show ambivalent attitude of other Member States towards Germany.

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