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Browsing ADEMU Working Papers Series by Subject "Monetary union"

Browsing ADEMU Working Papers Series by Subject "Monetary union"

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  • Almeida Bandeira, Guilherme de (2016-06)
    This paper considers a scheme of fiscal transfers between member states of a monetary union subject to sovereign spread shocks. The scheme consists of a set of cross-country transfer rules triggered when sovereign spreads ...
  • Corsetti, Giancarlo; Duarte, Joao B.; Mann, Samuel (2018-03)
    We reconsider the effects of common monetary policy shocks across countries in the euro area, using a data-rich factor model and identifying shocks with high-frequency surprises around policy announcements. We show that ...
  • Dmitriev, Mikhail; Hoddenbagh, Jonathan (2018-04)
    We derive the optimal fiscal transfer scheme for countries in a monetary union to off-set the welfare losses resulting from asymmetric shocks and nominal rigidities. Optimal transfers involve a trade-off between reducing ...
  • Arce, Óscar; Hurtado, Samuel; Thomas, Carlos (2016-05)
    We provide a general equilibrium framework for analyzing the effects of supply and demand side policies, and the potential synergies between them, in an asymmetric monetary union that faces a liquidity trap and a slow ...

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