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1.
62 p, 834.3 KB Policy spillovers and synergies in a monetary union / Arce, Óscar ; Hurtado, Samuel ; Thomas, Carlos
We provide a general equilibrium framework for analyzing the effects of supply and demand side policies, and the potential synergies between them, in an asymmetric monetary union that faces a liquidity trap and a slow deleveraging process in its 'periphery'. [...]
The ADEMU Working Paper Series is being supported by the European Commission Horizon 2020 European Union funding for Research & Innovation, grant agreement No 649396.

2016 (ADEMU Working Papers Series ; 6)  
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55 p, 726.6 KB When fiscal consolidation meets private deleveraging / Andrés, Javier ; Arce, Óscar ; Thomas, Carlos
We analyze the interaction between fiscal consolidations and private sector deleveraging in an economy inside a monetary union. Pre-existing long-term collateralized private debt - a core ingredient of the deleveraging process - plays a critical role in shaping fiscal multipliers. [...]
The ADEMU Working Paper Series is being supported by the European Commission Horizon 2020 European Union funding for Research & Innovation, grant agreement No 649396.

2016 (ADEMU Working Paper Series ; 42)  

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