This article's main goal is to evaluate the degree of fiscal dominance in Uruguay 1999-2019 improve understanding economic policy for theoretical reasons and applied needs related good practices accountability. Two strategies are followed: one, quantify fraction expenditures that financed by monetary liabilities and, other analyze effects deficit on price level inflation because inflationary fi...

We use event study regressions to compare the impact of EU monetary versus fiscal policy announcements on government bond spreads ten euro member countries. Our motivation is evaluate which two players – ECB or level has been more crucial for stabilization sovereign markets in crisis environment pandemic. This question substantial relevance assess potential risks effective independence future. ...

Stylized facts for South Asia show the dominance of supply shocks, amplified by macroeconomic policies and procyclical current accounts. Interest and exchange rate volatility rose initially on liberalization, but fell as markets deepened. A gradual middling through approach to openness and market development are helping the region absorb shocks without reducing growth. Diverse sources of demand...

Abstract This paper examines the threat of fiscal dominance for central banks with a focus on individual dimension. A general symptom is feedback loop from sovereign debt developments to monetary policy decisions. Our theoretical reasoning clarifies under which assumptions members in federal bank system should pay particular attention their home regions’ public situation. We present empirical e...

This paper assesses the prospects for the new Polish monetary policy strategy of inflation targeting. Regarding the general requirements for implementing an inflation targeting strategy it appears that Poland has made sufficient progress in reducing fiscal dominance and hardening budget constraints. The paper also finds that the exchange rate has played a dominant role as a policy instrument, w...

background fiscal decentralization (fd) in many cases is encouraged as a strong means of improving the efficiency and equity in the provision of public goods, such as healthcare services. this issue has urged the researchers to experimentally examine the relationship between fiscal decentralization indicators and health outcomes. in this study we examine the effect of fiscal decentralization in...