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- W614275164 abstract "This paper adopts a general equilibrium model to figure out the welfare implicationsnof fiscal constraints on national budgetary deficit and sovereign debt to memberncountries. The model demonstrates that even though the national governments and thencentral bank can keep the price level stable in both regional and union levels undernfiscal restrictions, the social welfare loss is higher than the one in a non-constraintsnregime, compared with the bench mark steady state.n" @default.
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- W614275164 date "2012-06-12" @default.
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- W614275164 title "The Welfare Effect of Fiscal Constraints in Monetary Union" @default.
- W614275164 hasPublicationYear "2012" @default.
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