caa a22 4500 469034041 CHVBK 20180323132751.0 cr unu---uuuuu 170328e19920301xx s 000 0 eng 10.1007/BF01849802 doi (NATIONALLICENCE)springer-10.1007/BF01849802 Van Der Ploeg Frederick University of Amsterdam, TI and CEPR, Netherlands aut Fiscal stabilisation and monetary integration in Europe: A short-run analysis [Elektronische Daten] [Frederick Van Der Ploeg] Summary: An adverse supply shock hits a two-country Mundell-Fleming world and causes unemployment and a higher cost of living. The optimal budgetary policies under non-cooperative and under international policy coordination are then contrasted under a regime of floating exchange rates, a regime of managed exchange rates with hegemony (such as the EMS), and a symmetric regime of fixed exchange rates (such as the EMU). The welfare loss depends on unemployment, real wage income and budgetary imbalance. Attention is also paid to the effects of indexation of wages on the cost of living and of interactions between Europe and the US. The results shed some light on the short-run stabilisation aspects of the proposals of the Delors Committee for economic and monetary union in Europe. Kluwer Academic Publishers, 1992 De Economist Kluwer Academic Publishers 140/1(1992-03-01), 16-44 0013-063X 140:1<16 1992 140 10645 https://doi.org/10.1007/BF01849802 text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1007/BF01849802 text/html Onlinezugriff via DOI NATIONALLICENCE 100 1- Van Der Ploeg Frederick University of Amsterdam, TI and CEPR, Netherlands aut NATIONALLICENCE 773 0- De Economist Kluwer Academic Publishers 140/1(1992-03-01), 16-44 0013-063X 140:1<16 1992 140 10645 Metadata rights reserved Springer special CC-BY-NC licence nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-springer