Marzinotto, B., (2013), “The euro complements Northern European economies more effectively than those in Southern Europe”, Europeans Politics and Policy Blog, 02 October. Why has the Eurozone crisis affected Southern European countries more severely than Northern European countries? Benedicta Marzinotto writes that it is necessary for monetary and fiscal policies to complement structural factors within an economy, such as labour market institutions. She argues that the transition to the euro …Read More

Henriksen, E., Kydland, F. and Šustek, R., (2013), “Independent monetary policies, synchronised outcomes”, VoxEU, 02 October. The monetary policy for Eurozone members is one-size-fits-all in an economic area rife with economic differences. Does this really make a difference? This column argues that even if each EZ member state had a fully independent monetary authority, monetary policies would likely still appear highly synchronised across EZ members.   Relevant Posts Fernandes, S. …Read More

Vegh, C. and Vuletin, G., (2013), “Tax-policy procyclicality”, VoxEU, 01 October. Government spending is procyclical in developing countries, exacerbating the business cycle. However, an analysis of tax policy is also required in order to properly assess the overall stance of fiscal policy. This column presents recent research showing that tax policy tends to be procyclical in developing countries and acyclical in developed countries. Although some developing countries have managed to …Read More