Concept

Zone monétaire optimale

Publications associées (7)

Potential integration of Chinese and European emissions trading market: welfare distribution analysis

A new paper has found that the European Union (EU) and China would both see benefits if their respective ETSs were integrated. The analysis shows that China’s welfare would improve through the “net gain of selling the [carbon] allowance”. In comparison, th ...

Carbon Brief2021

Fiscal Policy, Relative Prices and Net Exports in a Currency Union

Christian Pröbsting

This paper studies the effects of fiscal policy on net exports, the terms of trade and expenditure switching. Using data on government spending and consumption taxes for twelve euro area countries over 1996 to 2018, it shows that fiscal austerity shocks im ...

2020

Quantifying the Benefits of Labor Mobility in a Currency Union

Unemployment differentials are bigger in Europe than in the United States. Migration responds to unemployment differentials, though the response is smaller in Europe. Mundell (1961) argued that factor mobility is a precondition for a successful currency un ...

2018

On the Benefits of a Monetary Union: Does it Pay to Be Bigger?

Chiara Forlati

This paper revisits the question of the appropriate domain of a currency area using a New-Keynesian open economy model in which the world is split in two areas, each framed as a continuum of small open regions. We show that the adoption of a common currenc ...

Center for Fiscal Policy Working Paper Series2013

On the Benefits of a Monetary Union: does it pay to be bigger?

Chiara Forlati

A two area dynamic stochastic general equilibrium model is employed to investigate the welfare implications of losing monetary independence. Two policy regimes are compared: (i) in one area there is a common currency, while in the other area countries stil ...

Center for Fiscal Policy Working Paper Series2009

Optimal Monetary and Fiscal Policy in the EMU: Does Fiscal Policy Coordination matter?

Chiara Forlati

I develop and analyze a DSGE model of a currency union to revise the question of how to conduct monetary and fiscal policy in countries that share the same currency. In contrast with the previous literature which assumes coordination, this paper analyzes t ...

Center for Fiscal Policy Working Paper Series2009

High-pressure elasticity of alpha-quartz: Instability and ferroelastic transition

Philippe Gillet

The single-crystal elastic moduli of alpha-quartz were measured to above 20 GPa in a diamond-anvil cell by Brillouin spectroscopy. The behavior of the elastic moduli indicates that the high-pressure phase transition in quartz is ferroelastic in nature and ...

2000

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