Autore: Dalmazzo, Alberto
Titolo: Monetary Discipline as a Substitute for Fiscal Reforms and Market Liberalisations
Periodico: Economic notes
Anno: 2014 - Volume: 43 - Fascicolo: 3 - Pagina iniziale: 193 - Pagina finale: 210

In an economy with wage-setting unions where the government has gains from redistribution, we analyse the incentive of incumbent politicians to implement monetary discipline (e.g. by joining a monetary union) against the adoption of fiscal reforms, or deregulation in product markets. We show that monetary discipline can be a ‘substitute’ both for better (i.e. less distortionary) fiscal policies and for deregulation in product markets.


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SICI: 0391-5026(2014)43:3<193:MDAASF>2.0.ZU;2-1

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