Please use this identifier to cite or link to this item: https://scidar.kg.ac.rs/handle/123456789/17901
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dc.rights.licenseAttribution-NonCommercial-NoDerivs 3.0 United States*
dc.contributor.authorPantović, Danijela-
dc.contributor.authorFedajev, Aleksandra-
dc.contributor.authorMilosevic, Isidora-
dc.date.accessioned2023-05-28T18:02:18Z-
dc.date.available2023-05-28T18:02:18Z-
dc.date.issued2023-
dc.identifier.citationPantovic, D., Fedajev, A., & Milošević, I. (2023). Monetary and fiscal policies in the EU. Is there a difference between EMU and non-EMU members?, Acta Oeconomica, 73(1), 85-100. doi: https://doi.org/10.1556/032.2023.00006en_US
dc.identifier.issn0001-6373en_US
dc.identifier.urihttps://scidar.kg.ac.rs/handle/123456789/17901-
dc.description.abstractThe COVID-19 crisis has put the European Union's (EU) ability to respond to external challenges to test. It is not a new issue that has arisen due to the current crisis. The global economic crisis of 2008, and, in particular, the sovereign debt crisis of 2010, highlighted the need for institutional, policy and political reform to ensure the stability and long-term sustainability of the EU project. The EU's asymmetric degrees of integration, in terms of Economic and Monetary Union (EMU) and non-EMU members, resulted in a diverse response to the crisis and, more importantly, mixed-effects from monetary and fiscal policies. This study aims to research the impact of monetary and fiscal policies between 2007 and 2015 on economic growth and employment. The findings show that loose monetary policies at the EU, EMU and non-EMU levels boosted economic growth and development. On the other hand, restrictive fiscal policy had favourably influenced GDP and employment by reducing inflationary pressures produced by expansive monetary policy. However, fiscal policy had a greater impact in the non-EMU countries, demonstrating that this policy can act as a stabilizing force in the face of an overly expansive and common monetary policy. In order to respond effectively to the current and future crises, the EU government should overhaul the way monetary and fiscal policy is conducted and coordinated.en_US
dc.description.urihttps://akjournals.com/view/journals/032/73/1/article-p85.xmlen_US
dc.language.isoenen_US
dc.rightsinfo:eu-repo/semantics/openAccess-
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/3.0/us/*
dc.sourceActa Oeconomica-
dc.subjectEuropean unionen_US
dc.subjectEuropean monetary unionen_US
dc.subjectECBen_US
dc.subjectmonetary policyen_US
dc.subjectfiscal policyen_US
dc.titleMonetary and fiscal policies in the EU. Is there a difference between EMU and non-EMU members?en_US
dc.typearticleen_US
dc.description.versionPublisheden_US
dc.identifier.doi10.1556/032.2023.00006en_US
dc.type.versionPublishedVersionen_US
Appears in Collections:Faculty of Hotel Management and Tourism, Vrnjačka Banja

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