Dealing with the consequences of exchange ...
Document type :
Article dans une revue scientifique
DOI :
Permalink :
Title :
Dealing with the consequences of exchange rate misalignments for macroeconomic adjustments in the EMU
Author(s) :
Duwicquet, Vincent [Auteur]
Centre Lillois d’Études et de Recherches Sociologiques et Économiques - UMR 8019 [CLERSÉ]
Mazier, Jacques [Auteur]
Centre d'Economie de l'Université Paris Nord [CEPN]
Saadaoui, Jamel [Auteur]
Centre d'Economie de l'Université Paris Nord [CEPN]
Bureau d'Économie Théorique et Appliquée [BETA]

Centre Lillois d’Études et de Recherches Sociologiques et Économiques - UMR 8019 [CLERSÉ]
Mazier, Jacques [Auteur]
Centre d'Economie de l'Université Paris Nord [CEPN]
Saadaoui, Jamel [Auteur]
Centre d'Economie de l'Université Paris Nord [CEPN]
Bureau d'Économie Théorique et Appliquée [BETA]
Journal title :
Metroeconomica
Abbreviated title :
Metroeconomica
Volume number :
69
Pages :
737-767
Publisher :
Wiley
Publication date :
2018-07-26
ISSN :
0026-1386
English abstract : [en]
The euro crisis sheds light on the nature of alternative adjustment mechanisms in the EMU. This article examines the exchange rate misalignments within the euro zone, using a FEER approach. To explore the consequences of ...
Show more >The euro crisis sheds light on the nature of alternative adjustment mechanisms in the EMU. This article examines the exchange rate misalignments within the euro zone, using a FEER approach. To explore the consequences of these misalignments, we use an open economy SFC model with endogenous interest rates and Eurobonds. Facing a competitiveness loss in southern countries due to misalignments, three sets of alternative economic policy are investigated: a policy‐mix based on tax rebates to improve competitiveness; an increase in intra‐European financing by banks of northern countries; and an issuance of Eurobonds to pool European sovereign debt.Show less >
Show more >The euro crisis sheds light on the nature of alternative adjustment mechanisms in the EMU. This article examines the exchange rate misalignments within the euro zone, using a FEER approach. To explore the consequences of these misalignments, we use an open economy SFC model with endogenous interest rates and Eurobonds. Facing a competitiveness loss in southern countries due to misalignments, three sets of alternative economic policy are investigated: a policy‐mix based on tax rebates to improve competitiveness; an increase in intra‐European financing by banks of northern countries; and an issuance of Eurobonds to pool European sovereign debt.Show less >
Language :
Anglais
Audience :
Non spécifiée
Administrative institution(s) :
Université de Lille
CNRS
Univ. Littoral Côte d’Opale
CNRS
Univ. Littoral Côte d’Opale
Collections :
Submission date :
2020-04-29T10:04:47Z
2020-04-29T12:19:04Z
2020-04-29T12:19:04Z
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