Titlebook: Business Cycles and Macroeconomic Stability; Should We Rebuild Bu Jean-Oliver Hairault,Pierre-Yves Hénin,Franck Port Book 1997 Springer Sci

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Measuring Performance for Business Resultsn monetary policy and discusses the role of national fiscal policies with and without independent national monetary policies. The paper concludes by arguing that international fiscal transfers do not necessarily augment the capacity of fiscal policies to substitute for separate monetary policies under perfectly flexible nominal exchange rates.

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Measuring Performance for Business Results an insurance mechanism based on unemployment insurance. Such a scheme would provide a reasonable degree of stabilization of asymmetric shocks. However, it raises an additional trade-off between stabilization efficiency and interpersonal equity.

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Is Man Actively Changing the Environmenteaction of interest rates to public deficits and in the sensivity of households to the risks of future taxation. Once economic and monetary integration has been completed, the budget policy may become more effective.

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Public Investment, Stabilization and Growthre cost of fluctuations. This results relies on the fact that while the trend component dominates the welfare cost of fluctuations for low stabilization rate, cyclical component dominates for high stabilization. Further, this optimal rate of stabilization depends crucially on the size of persistence of shocks and on the size of externalities.

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Monetary Union and the Role of Automatic Stabilizersn monetary policy and discusses the role of national fiscal policies with and without independent national monetary policies. The paper concludes by arguing that international fiscal transfers do not necessarily augment the capacity of fiscal policies to substitute for separate monetary policies under perfectly flexible nominal exchange rates.

CIS

Insurance Against Asymetric Shocks in a European Monetary Union an insurance mechanism based on unemployment insurance. Such a scheme would provide a reasonable degree of stabilization of asymmetric shocks. However, it raises an additional trade-off between stabilization efficiency and interpersonal equity.

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Are Automatic Stabilizers Still Effective? the French Case in the Ninetieseaction of interest rates to public deficits and in the sensivity of households to the risks of future taxation. Once economic and monetary integration has been completed, the budget policy may become more effective.