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Insurance mechanisms against asymmetric shocks in a monetary union: an application to the European Monetary Union
(1999)
Documento de trabajo / Lan gaiak,
In this paper we offer a proposal of an automatic insurance mechanism designed to cope with asymmetric shocks in a monetary union. The mechanism would take as indicator the changes in the unemployment rate of the countries ...
Fiscal policy and growth revisited: the case of the Spanish regions
(1999)
Documento de trabajo / Lan gaiak,
This paper presents an assessment of the effects of fiscal policy on economic growth. Starting from a theoretical model in which only those fiscal policy instruments presumed to strictly influence the production process ...