EU Fiscal Governance and Monetary Union

EU Fiscal Governance & Monetary Union

One of the most ambitious, and one of the most difficult, integration initiatives has been to introduce a common currency across the lion’s share of the EU member states. Fiscal governance, both at the EU and the national levels, acquires special relevance in this case. The articles under this topic explore the framework established to ensure fiscal discipline, stability, and coordination among both Eurozone and non-Eurozone member states. It examines the role of institutions such as the European Central Bank (ECB) in shaping monetary policy and managing the euro. Additionally, the articles propose reforms aimed at strengthening fiscal governance and deepening EU economic integration.

Related articles

Cover of EconPol Policy Report 33

A Model To Think About Crypto-Assets and Central Bank Digital Currency

Hernán D. Seoane (Universidad Carlos III de Madrid)

This paper introduces digital assets, crypto assets in general, and Central Bank Digital Currency in particular, into an otherwise standard New-Keynesian closed economy model with Financial Frictions. We use this setting to study the impact of a change in preferences towards the use of digital assets and to address whether the emergence of this type of instruments affect the transmission of monetary policy shocks. In this context we study the introduction of Central Bank Digital Currencies. The model is stylized but it could be a baseline for the design of models for quantitative analysis.

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