Federalism, fiscal restraints, and European monetary union

Article Abstract:

The Maastricht Treaty's provisions regarding fiscal policies by the member states of the European Union are found in its Excessive Deficit Procedure (EDP). The EDP forbids members from exceeding the deficit by three percent and public debt by 60% of the gross domestic product. Excess deficits will force the European Central bank to intervene and bail out the state. Econometric analysis shows that these restrictions may worsen fiscal problems once it is implemented.

Public Finance Activities, Fiscal Policy, Models, Europe, Economic aspects, National debt, Public debts, Budget deficits

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Policy options in liquidity trap

Article Abstract:

The zero interest rate policy of Japan during liquidity trap period to halt deflation is discussed. The role of monetary policy planning to avoid such situations is discussed.

Japan, Interest Rates, United States economic conditions, Monetary policy, Control, Deflation (Finance), Deflation (Economics)

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The parallel-currency approach to Asian monetary integration

Article Abstract:

The need of developing an Asian Currency Unit for Asian countries to manage foreign exchange rates and economic development is presented.

Forecasts, trends, outlooks, Asia, Forecasts and trends, Foreign exchange, Foreign exchange rates, Market trend/market analysis, Asian dollar market, Monetary systems

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