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Euro Area Policies: Spillover Report for the 2011 Article IV Consultation and Selected Issues

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  • International Monetary Fund

Abstract

The euro area (EA) plays a major role in the global economy. Market perceptions of events in the EA program countries illustrate the possibility of large spillovers from the area in times of stress. The prospect of large spillovers underscores the urgent need for actions to contain, and eventually overcome, the ongoing crisis. The planned fiscal consolidation in the EA could benefit the rest of the world. Spillovers from gradual monetary policy normalization appear manageable. Execution of the structural reform agenda will carry positive spillovers.

Suggested Citation

  • International Monetary Fund, 2011. "Euro Area Policies: Spillover Report for the 2011 Article IV Consultation and Selected Issues," IMF Staff Country Reports 2011/185, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2011/185
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    Citations

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    Cited by:

    1. Kalaš Branimir & Andrašić Jelena & Pjanić Miloš, 2016. "Aspect of Fiscal Consolidation: Evidence from Serbia," The European Journal of Applied Economics, Sciendo, vol. 13(2), pages 21-29, October.
    2. Kristin Forbes, 2012. "The "Big C": Identifying Contagion," NBER Working Papers 18465, National Bureau of Economic Research, Inc.
    3. Đurović-Todorović Jadranka & Đorđević Marina & Vuković Marija, 2017. "Fiscal Stress Analysis in the Republic of Serbia," Economic Themes, Sciendo, vol. 55(1), pages 55-69, March.
    4. Mr. Heiko Hesse & Mr. Ferhan Salman & Mr. Christian Schmieder, 2014. "How to Capture Macro-Financial Spillover Effects in Stress Tests?," IMF Working Papers 2014/103, International Monetary Fund.
    5. Kristin J. Forbes, 2012. "The “Big C”: identifying and mitigating contagion," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 23-87.

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