How Loose, How Tight? A Measure of Monetary and Fiscal Stance for the Euro Area

This paper builds a model-based dynamic monetary and fiscal conditions index (DMFCI) and uses it to examine the evolution of the joint stance of monetary and fiscal policies in the euro area (EA) and in its three largest member countries over the period 2007-2018. The index is based on the relative impacts of monetary and fiscal policy on demand... READ MORE...

Publication date: June 2020
ISBN 9781513546087

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Publication date: June 2020