dc.contributor.author | Malmierca Ordoqui, María | |
dc.date.accessioned | 2024-01-22T16:24:29Z | |
dc.date.available | 2024-01-22T16:24:29Z | |
dc.date.issued | 2023 | |
dc.identifier.citation | Malmierca, M.: Optimal macroprudential and fiscal policy in a monetary union, Economic Modelling, Volume 122, 2023 https://doi.org/10.1016/j.econmod.2023.106238 | es |
dc.identifier.issn | 0264-9993 | |
dc.identifier.uri | https://hdl.handle.net/20.500.12766/515 | |
dc.description.abstract | The 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 variables. | es |
dc.language.iso | eng | es |
dc.publisher | Elsevier | es |
dc.title | Optimal macroprudential and fiscal policy in a monetary union | es |
dc.type | journal article | es |
dc.description.department | Empresa | es |
dc.identifier.doi | 10.1016/j.econmod.2023.106238 | |
dc.journal.title | Economic Modelling | es |
dc.rights.accessRights | metadata only access | es |
dc.subject.area | Economía Aplicada | es |
dc.volume.number | 122 | es |