TY  - JOUR
U1  - Zeitschriftenartikel, wissenschaftlich - begutachtet (reviewed)
A1  - Herzog, Bodo
T1  - Applied mathematical theory for monetary-fiscal interaction in a supranational monetary union
JF  - Journal of applied mathematics and physics
N2  - I utilize a differentiable dynamical system á la Lotka-Voletrra and explain monetary and fiscal interaction in a supranational monetary union. The paper demonstrates an applied mathematical approach that provides useful insights about the interaction mechanisms in theoretical economics in general and a monetary union in particular. I find that a common central bank is necessary but not sufficient to tackle the new interaction problems in a supranational monetary union, such as the free-riding behaviour of fiscal policies. Moreover, I show that upranational institutions, rules or laws are essential to mitigate violations of decentralized fiscal policies.
KW  - differential equations
KW  - monetary-fiscal interaction
KW  - monetary union theory
Y1  - 2014
UN  - https://nbn-resolving.org/urn:nbn:de:bsz:rt2-opus4-559
SN  - 2327-4352
SS  - 2327-4352
U6  - https://doi.org/10.4236/jamp.2014.28081
DO  - https://doi.org/10.4236/jamp.2014.28081
VL  - 2
IS  - 8
SP  - 737
EP  - 744
S1  - 8
PB  - Scientific Research Publishing
CY  - Irvine, California
ER  -