Title:Insulation impossible : monetary policy and regional debt spillovers in a federation Author(s):COOPER, Russell; KEMPF, Hubert; PELED, DanDate:2014Citation:
- Journal of the European economic association, 2014, Vol. 12, No. 2, pp. 465-491
Type:ArticleAbstract:This paper studies the effects of monetary policy in the presence of debt spillovers within a monetary union. When capital markets are integrated, the fiscal policy of any member country will generally influence equilibrium ...