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dc.contributor.authorMalmierca Ordoqui, María
dc.identifier.citationMalmierca, M.: Optimal macroprudential and fiscal policy in a monetary union, Economic Modelling, Volume 122, 2023
dc.description.abstractThe link between the financial system, economic activity, and fiscal sustainability is increasingly evident, making the joint study of fiscal and macroprudential measures a promising area to investigate. This paper provides a novel analysis of the coordination of optimal fiscal and macroprudential policies regarding welfare maximization through a two-country model for a monetary union. I find that the advisability to coordinate macroprudential and fiscal policy depends on the kind of shock that hits the economy. After financial shocks, macroprudential-fiscal coordination at the national level entails the greatest welfare improvements. Under supply and demand shocks, the best option regarding welfare implies macroprudential-fiscal coordination to stabilize union aggregate
dc.titleOptimal macroprudential and fiscal policy in a monetary uniones
dc.typejournal articlees
dc.journal.titleEconomic Modellinges
dc.rights.accessRightsmetadata only accesses
dc.subject.areaEconomía Aplicadaes

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