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Las reglas de política monetaria en la actuación del Banco de España: 1978-1998
(2001)
Documento de trabajo / Lan gaiak,
La especificación de la función de reacción del banco central en los términos propuestos por Taylor (1993), permite conocer en qué medida la política monetaria diseñada e instrumentada es sensible a dos objetivos básicos ...
A general framework for the macroeconomic analysis of monetary unions
(2001)
Documento de trabajo / Lan gaiak,
The objective of this paper is to develop a general framework for the macroeconomic modelling of monetary unions, which could be useful for policy analysis, as well as for teaching purposes. Our starting point will be the ...
Coordination of fiscal policies in a monetary union
(2000)
Documento de trabajo / Lan gaiak,
This paper examines how the member countries of a monetary union react to country-specific shocks and to shocks from the rest of the world, when the budget deficit is the only policy instrument available. We develop a ...
Supply policies coordination in a monetary union
(2000)
Documento de trabajo / Lan gaiak,
This paper examines how the member countries of a monetary union react to country-specific shocks and to shocks from the rest of the world, using supply-side policies. We develop a three-country model in which countries ...
International monetary policy coordination under asymmetric shocks
(2000)
Documento de trabajo / Lan gaiak,
The purpose of this paper is to show whether international policy coordination may be the best response to economic interdependence. We will study the short-run interactions taking place among interdependent economies, ...
On the insurance function of fiscal policy in a monetary union
(2000)
Documento de trabajo / Lan gaiak,
In this paper we first review the available literature on the degree of insurance against shocks, provided by the central budget in the federal systems already existing. Next, we discuss the main points raised on the debate ...