Author/Editor: Uffe Mikkelsen, Esther Pérez Ruiz.

Release Date: September, 2012

This paper investigates the asymmetries in trade spillovers from sector-specific technology shocks in China to selected euro area countries. We use a Ricardian-gravity trade model to estimate more...

Release Date: July, 2012

The 2012 Article IV Consultation report on euro area policies highlights that investors are withholding funding from member states most in need, moving capital “north” and abroad to perceived more...

Release Date: July, 2012

This 2012 Article IV Consultation—Selected Issues Paper on Euro Area Policies argues that the creation of a common eurozone financial stability architecture is an immediate priority to restore the more...

Author/Editor: Izabela Karpowicz.

Release Date: March, 2012

This paper describes the institutional changes that have induced a decline in the vertical fiscal imbalance (VFI) - defined as the share of sub-national own spending not financed through own revenues more...

Author/Editor: Julio Escolano, Luc Eyraud, Marialuz Moreno Badia, Juliane Sarnes, Anita Tuladhar.

Release Date: February, 2012

This paper analyzes the impact of decentralization on overall fiscal performance in the European Union, taking into account fiscal institutional arrangements. We find that spending decentralization more...

Author/Editor: Florence Jaumotte, Hanan Morsy.

Release Date: January, 2012

While inflation differentials in a monetary union can be benign, reflecting a catch-up process, or an adjustment mechanism to asymmetric shocks or different business cycles, they may also indicate more...

Release Date: July, 2011

In this study, the risks related to the euro area sovereign debt crisis are analyzed. Methods used to implement the European Financial Stability Facility (EFSF) are overviewed, and the European more...

Release Date: September, 2010

The aim is to analyze the main channels of transmission for shocks from the global economy to Guyana and assess their specific spillover magnitudes. The paper documents the transmission channels of more...

Release Date: April, 2008

This paper provides three policy lessons to take full advantage of the opportunity afforded by EU funds. The main features of the global integrated monetary and fiscal (GIMF) model and how it was more...

Release Date: October, 2006

The report summarizes the assessment of Financial Sector Supervision and Regulation on Reports on the Observance of Standards and Codes (ROSC) on banking supervision, insurance supervision, and more...

Author/Editor: Roel M W J Beetsma, Xavier Debrun, Franc Klaassen.

Release Date: November, 2001

It is widely argued that Europe's unified monetary policy calls for international coordination at the fiscal level. We survey the issues involved in such coordination in the perspective of more...