دانلود مقاله انگلیسی رایگان:پیامدهای اقتصاد کلان و سیاست اوراق قرضه اروپایی - 2020
دانلود بهترین مقالات isi همراه با ترجمه فارسی 2
دانلود مقاله انگلیسی حقوق جرم و جزا رایگان
  • Macroeconomic and policy implications of eurobonds Macroeconomic and policy implications of eurobonds
    Macroeconomic and policy implications of eurobonds

    سال انتشار:

    2020


    عنوان انگلیسی مقاله:

    Macroeconomic and policy implications of eurobonds


    ترجمه فارسی عنوان مقاله:

    پیامدهای اقتصاد کلان و سیاست اوراق قرضه اروپایی


    منبع:

    Sciencedirect - Elsevier - International Review of Law & Economics, 65 (2021) 105954: doi:10:1016/j:irle:2020:105954


    نویسنده:

    Cristina Badarau


    چکیده انگلیسی:

    This article explores the controversial subject of Eurobonds, by analyzing their economic consequences in an asymmetric monetary union like the Eurozone, where countries differ in size and policy preferences. We thus build a two-country monetary union DSGE model to compare three scenarios of government debt issuance: i) countries issue their own sovereign bonds (the baseline scenario is given the label “National bonds”); ii) countries issue common sovereign bonds without any limitations on the amount they can borrow (this scenario is labelled “Eurobonds”); and iii) there is a cap on the issuance of Eurobonds by each country so that the joint liability is limited (we call this scenario “Limited Eurobonds”). Assuming that a country decides to increase public spending and cares little about debt stabilization, we find that the spending multiplier would be the highest with Eurobonds and the lowest with Limited Eurobonds. The spillover effects on output in the rest of the union would be negative with Eurobonds but positive with Limited Eurobonds. The positive trade channel of the spillover effects is reinforced while the negative financial channel is reduced in the latter scenario. From the perspective of the monetary union as a whole, Limited Eurobonds could bring about higher overall output and produce larger benefits for aggregate household welfare depending upon country size. Altogether, our findings support the case for limited joint liability, especially when the public spending shock originates from a country which is smaller than the rest of the union, but not too small.
    Keywords: Eurobonds | “coronabonds” | Sovereign debt | Spillovers | Monetary union


    سطح: متوسط
    تعداد صفحات فایل pdf انگلیسی: 18
    حجم فایل: 1677 کیلوبایت

    قیمت: رایگان


    توضیحات اضافی:




اگر این مقاله را پسندیدید آن را در شبکه های اجتماعی به اشتراک بگذارید (برای به اشتراک گذاری بر روی ایکن های زیر کلیک کنید)

تعداد نظرات : 0

الزامی
الزامی
الزامی
rss مقالات ترجمه شده rss مقالات انگلیسی rss کتاب های انگلیسی rss مقالات آموزشی
logo-samandehi