Ajustement, politiques économiques et récession de 2008-2009 au Canada et aux États-Unis : des mécanismes pertinents pour la zone euro?
DOI:
https://doi.org/10.18559/rielf.2019.1.13Keywords:
optimal currency area, euro zone, fiscal federalism, Canada, United StatesAbstract
This paper presents the mechanisms of adjustment to the economic shocks of two monetary zones with federal structure - Canada and the United States - and points out some observations relevant for the euro zone (EZ). The first part briefly presents some reflections on financial federalism and optimal currency area. The second presents the monetary and fiscal policies that made it possible to mitigate the economic shock of 2008-2009. The third concludes by examining their relevance for the EZ.
Downloads
References
Bordo Michael D. Hugh Rockoff et Angela Redish (1993) A Comparison Of The United States And Canadian Banking Systems In The Twentieth Century: Stability Vs. Efficiency? Working Paper No. 4546 NATIONAL BUREAU OF ECONOMIC RESEARCH https://www.nber.org/papers/w4546.pdf
View in Google Scholar
Buchanan, James M. “Federalism and Fiscal Equity,” American Economic Review 40 (September 1950): 583-99
View in Google Scholar
Campbell Bruce (2004) North American Monetary Union (NAMU)—A Critical Assessment https://www.uvic.ca/research/centres/globalstudies/assets/docs/publications/NorthAmericanMonetaryUnionCriticalAssessment.pdf
View in Google Scholar
Courchene, T and R. Harris (1999): From Fixing to Monetary Union: Options for North American Currency Integration C.D. Howe Institute, Commentary, June. https://www.cdhowe.org/sites/default/files/attachments/research_ papers/mixed//harris.pdf
View in Google Scholar
Courchene, Thomas (2003) ‘’The Case for a North American Currency Union’’ Policy Options Politiques http://policyoptions.irpp.org/magazines/big-ideas/the-case-for-a-north-american-currency-union/
View in Google Scholar
Chrysanthidou, E P. Gogas et T. Papadimitrioy (2012) Optimum Currency Areas within the US and Canada: a Data Analysis Approach RESEARCH PAPERS IN ECONOMICS 4-12 Department of International Economic Relations and Development Democritus University of Thrace https://ideas.repec.org/p/ris/duthrp/2012_004.html
View in Google Scholar
Dahlby, Bev (2014) Reforming Equalization: Balancing Efficiency, Entitlement and Ownership SPP Research papers Volume 7 • Issue 22 • September 2014 https://www.policyschool.ca/wp-content/uploads/2016/03/dahlby-equalization.pdf
View in Google Scholar
Dudley Leonard (1971)’’Sur l’optimalité de la zone monétaire canadienne’’ L’Actualité économique Volume 49, numéro 1, janvier–mars 1971 7-18
View in Google Scholar
Fischer, Georg (2017) The US Unemployment Insurance, a Federal-State Partnership: Relevance for Reflections at the European Level IZA Policy Paper No. 129 http://ftp.iza.org/pp129.pdf
View in Google Scholar
Grubel, H. (1999): The Case for the Amero: The Economics and Politics of a North American Monetary Union, Fraser Institute, Critical Issues Bulletin, September. https://singleglobalcurrency.org/documents/1999TheCasefortheAmerobyHerbertGrubel.pdf
View in Google Scholar
Kouparitsas, Michael A (1999) ‘’Is the United States an optimal currency area?’’Chicago Fed Letter October 1999 Number 146
View in Google Scholar
Laurent , Stephen et François Vaillancourt (2004)Federal-Provincial Transfers for Social Programs in Canada: their Status in May 2004 (avec Stephen Laurent) Institute for Research on Public Policy, Working paper 2004-07, 2004 http://irpp.org/research-studies/working-paper-no2004-07/
View in Google Scholar
Martin, Pierre et François Vaillancourt (2015) ‘’Les États-Unis, le Canada et la grande récession de 2007-2009 : un continent, deux ensembles de politiques économiques’’ Revue LISA 13 (2) http://lisa.revues.org/8307
View in Google Scholar
Mundell Robert A. ‘’A Theory of Optimum Currency Areas’’ American Economic Review, Vol. 51, No. 4 (Sep., 1961), pp. 657-665
View in Google Scholar
Ruiz-Huerta J., R. Leenhouts et F. Vaillancourt (2014). « Une crise économique trois effets : Canada, Espagne et États-Unis 2007-2012 », Télescope, vol. 20, no 1, p. 41-60, www.telescope.enap.ca/Telescope/docs/Index/Vol_20_no_1/Telv20_no1_RuizHuerta_Leenhouts_Vaillancourt.pdf
View in Google Scholar
Rockoff Hugh (2000) How Long Did It Take the United States to Become an Optimal Currency Area? Historical Paper 124 National Bureau of Economic Research https://www.nber.org/papers/h0124
View in Google Scholar
Vaillancourt, François ‘’Diversité ethnolinguistique, inclusion et croissance: éléments de réflexion ‘’ Revue internationale des économistes de langue française 3(2) 2018 126-137 http://aielf.org/wp-content/uploads/2016/03/RIELF-2018-32.pdf
View in Google Scholar
Vaillancourt, François et Anabelle Fortin 2016 ‘’Vieillissement différencié par région, fédéralisme financier et protection sociale, 2000-2009: conséquences pour les économies américaines et canadiennes’’ dans Croissance, population et protection sociale, Actes du 59ième congrès, Association internationale des économistes de langue française, Paris, 2016, p 141-150
View in Google Scholar
Williamson, Stephen (2017) Quantitative Easing: How Well Does This Tool Work? The Regional Economist | Third Quarter 2017 Federal Reserve Bank of St Louis https://www.stlouisfed.org/~/media/publications/regional-economist/2017/third_quarter_2017/qe_lead.pdf
View in Google Scholar
Downloads
Published
Issue
Section
License
Copyright (c) 2019 Poznań University of Economics and Business
This work is licensed under a Creative Commons Attribution 4.0 International License.
