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• W2183469322 abstract "This paper explores the conditions of growth in Central Europe (Hungary, Poland, Czech Republic) since the beginning of the 2000s, from the point of view of the evolution of the institutional framework organising the coordination - or the conflict - between monetary and fiscal policies. In a context of disinflation via direct inflation targeting and of preparation for EMU entry, clashes were observed between independent central banks and governments, leading to several conflicts on the policy mix and on the status of the central bank. We first outline the institutional and economic framework of monetary and fiscal policies in Central Europe, then expose the conflicts observed and their impact on growth. Then we try to explain the emergence of these conflicts, first in terms of lack of monetary policy credibility, which is not very convincing, then in terms of the imperfections of the institutional framework governing macro policies, which seems more adequate and highlights how the imperfect coherence of the institutional framework may threaten growth." @default.
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• W2183469322 date "2007-01-01" @default.
• W2183469322 modified "2023-09-24" @default.
• W2183469322 title "Monetary and Fiscal Policy Conflicts in Central Europe: Has the Institutional Framework of Macro Policies Hampered Growth?" @default.
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