Structural Reforms and Budget Deficits in a Monetary Union: A Strategic Approach

被引：0

作者：

Campoy, Juan Cristobal ^{[1
]}

Negrete, Juan C. ^{[1
]}

机构：

[1] Univ Murcia, E-30001 Murcia, Spain

来源：

B E JOURNAL OF ECONOMIC ANALYSIS & POLICY | 2010年 / 10卷 / 01期

关键词：

structural reforms; budget deficits; externalities; coordination; FISCAL-POLICY; STABILITY PACT; DISCRETION; EMU; STABILIZATION; INTEGRATION; COMMITMENT; GROWTH; RULES;

D O I：

暂无

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper explores the interrelations between budget deficits and structural reforms in a monetary union. The analysis considers the international spillovers generated by both policies. We show that efforts to achieve fiscal policy coordination within the Eurozone reduce member countries' incentives to carry out much-needed structural reforms. As a consequence, this cooperation can turn out to be welfare-reducing if it is not extended to the implementation of structural reforms.

引用

页数：31

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