Theoretical and Applied Economics
No. 8 / 2012 (573)
Financial stability, monetary policy and budgetary coordination in EMU
“Politehnica” University of Timişoara
Abstract. A series of recent studies analyze the impact of financial crisis on the fiscal soundness in the Euro area countries. Even if their documented results present the transmission mechanisms of the financial instability toward the fiscal sector, a more realistic problem is related to the contribution of the fiscal and budgetary disequilibrium to the financial instability propagation. In this line, we show, based on a simple econometric model, that, beside the expansionary monetary policy, the budgetary deficit conducts to the financial stability deterioration. The financial stability of the Euro area is measured based on an aggregate financial stability index, constructed by employing the IMF methodology used for the financial stress index.
Contents
The new economic geography and regional policy in Romania
Recent evidence on concentration and competition in Turkish banking sector
Solutions against crisis applicable to the oro-dental health system in Romania
The bad public decisions’ ripple – setting the education off balance. Marketing simulation – education design decisions
Prepayment risk, impact on credit products
Financial stability, monetary policy and budgetary coordination in EMU
Central Bank independence
Re(De)-Forming public administration: an expert outlook on reform planning in Romania
The economic crisis – implications on methods and instruments used in quality of life studies
The Wagner hypothesis from the perspective of the Romanian economy
Effects of interest rate, exchange rate and their volatilities on stock prices: evidence from banking industry of Pakistan
Considerations on hospital financing in the context of health care decentralization