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Fiscal Devaluation in a Monetary Union

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Description:Using a DSGE model calibrated to the euro area, we analyze the international effects of a fiscal devaluation (FD) implemented as a revenue-neutral shift from employer's social contributions to the Value Added Tax. We find that a FD in ?Southern European countries? has a strong positive effect on output, but mild effects on the trade balance and the real exchange rate. Since the benefits of a FD are small relative to the divergence in competitiveness, it is best addressed through structural reforms.We have made it easy for you to find a PDF Ebooks without any digging. And by having access to our ebooks online or by storing it on your computer, you have convenient answers with Fiscal Devaluation in a Monetary Union. To get started finding Fiscal Devaluation in a Monetary Union, you are right to find our website which has a comprehensive collection of manuals listed.
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Pages: 34

Format: PDF, EPUB & Kindle Edition

Publisher: International Monetary Fund

Release: 2014

ISBN: 1498365566

Description: Using a DSGE model calibrated to the euro area, we analyze the international effects of a fiscal devaluation (FD) implemented as a revenue-neutral shift from employer's social contributions to the Value Added Tax. We find that a FD in ?Southern European countries? has a strong positive effect on output, but mild effects on the trade balance and the real exchange rate. Since the benefits of a FD are small relative to the divergence in competitiveness, it is best addressed through structural reforms.We have made it easy for you to find a PDF Ebooks without any digging. And by having access to our ebooks online or by storing it on your computer, you have convenient answers with Fiscal Devaluation in a Monetary Union. To get started finding Fiscal Devaluation in a Monetary Union, you are right to find our website which has a comprehensive collection of manuals listed.
Our library is the biggest of these that have literally hundreds of thousands of different products represented.

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Fiscal Devaluation in a Monetary Union

Fiscal Devaluation in a Monetary Union

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