Partisan fiscal policy in a monetary union : asymmetric shocks, delegation and welfare
This paper studies the impact of partisan national fiscal policy on the optimal central bank design of a two-country monetary union. In each country two parties with different preferences compete for office, their succession in power being formalized as zero-mean political shocks. These contrast wit...
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| Format: | workingPaper |
| Language: | eng |
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2021
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| Online Access: | http://hdl.handle.net/10400.5/22740 |
| Country: | Portugal |
| Oai: | oai:www.repository.utl.pt:10400.5/22740 |