Fiscal Devaluation in a Monetary Union is popular PDF and ePub book, written by Philipp Engler in 2014-10-30, it is a fantastic choice for those who relish reading online the Business & Economics genre. Let's immerse ourselves in this engaging Business & Economics book by exploring the summary and details provided below. Remember, Fiscal Devaluation in a Monetary Union can be Read Online from any device for your convenience.
Fiscal Devaluation in a Monetary Union Book PDF Summary
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.
Detail Book of Fiscal Devaluation in a Monetary Union PDF
- Author : Philipp Engler
- Release : 30 October 2014
- Publisher : International Monetary Fund
- ISBN : 9781498336352
- Genre : Business & Economics
- Total Page : 33 pages
- Language : English
- PDF File Size : 18,6 Mb
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