Optimal Fiscal and Monetary Policy
Optimal Fiscal and Monetary Policy under Sectorial Heterogeneity
... characterizes optimal fiscal and monetary policy in a new key- nesian model with sectorial heterogeneity in price ...the optimal target rule for fiscal and monetary ...
52
Optimal Fiscal and Monetary Policy Under Imperfect Competition
... on optimal monetary policy two distinct branches have developed that deliver diametrically opposed policy recommendations concerning the long-run and cyclical behavior of prices and interest ...
41
Technical Appendix to "Optimal Fiscal and Monetary Policy under Sectorial Heterogeneity"
... Technical Appendix to "Optimal Fiscal and Monetary Policy under Sectorial Heterogeneity" Berriel, Tiago and Sinigaglia, Daniel Princeton University, PUC-Rio.[r] ...
52
Optimal Fiscal and Monetary Policy under Sectorial Heterogeneity
... Optimal Fiscal and Monetary Policy under Sectorial Heterogeneity Berriel, Tiago and Sinigaglia, Daniel Princeton University, PUC-Rio... Referen ce for Paramet er Esti mat ion.[r] ...
52
Optimal fiscal and monetary policy, debt crisis, and management
... the policy space available for optimizing rules (see Giannoni ...a fiscal dimension, although this introduces a countervailing welfare-reducing effect of decreasing debt-deflating inflation ...
43
Optimal Fiscal and Monetary Policy Under Sticky Prices
... The focus of this paper is the study of the implications of price stickiness for the optimal degree of price volatility. The economic environment considered features a government that does not have access to ...
32
Optimal Fiscal and Monetary Policy Without Commitment
... Hence, policy choices may depend on history only via a set of endogenous and exogenous payoff-relevant state vari- ...corresponding policy rules are time-consistent, i.e., a sequential policy maker ...
38
Optimal fiscal and monetary policy in a medium-scale macroeconomic model
... to optimal policy that we propose in this paper departs from the literature extant in that it is based on a rich medium-scale theoretical framework capable of explaining observed business cycle fluctuations ...
64
Optimal Fiscal Policy in a Monetary Union
... that fiscal limits ´a la SGP help reduce the deficit bias of electorally-motivated governments but also reduce spending on “high-quality” outlays such as public investment and other outlays typically associated ...
25
Optimal Fiscal Policy Rules in a Monetary Union
... allow fiscal policy to feedback only on a single variable: national differences in inflation, the terms of trade between the countries and national differences in output ...has fiscal feedback on all ...
27
Optimal Simple and Implementable Monetary and Fiscal Rules
... the monetary/fiscal regime renders the equilibrium ...the optimal policy rule by setting the inflation coefficient in the interest- rate rule anywhere above unity and below -2 yields virtually ...
51
Optimal simple and implementable monetary and fiscal rules
... the monetary/fiscal regime renders the equilibrium ...the optimal policy rule by setting the inflation coefficient anywhere above unity yields virtually the same level of welfare as the ...
57
Monetary and fiscal policy switching
... for monetary policy is clearly not ...resembles monetary policy rules that have received detailed study in recent years [(Taylor ...are optimal. Fiscal rules like (17) that make ...
47
Optimal monetary policy
... constrained optimal policy in our economy; and (ii) the characteristics of equilibria under the optimal ...traditional monetary policy decision-maker, varying the quantity of money to ...
58
Optimal fiscal transfers in a monetary union
... the optimal transfer scheme ...the optimal transfer ...the optimal policy even though it generates high consumption and GDP ...that optimal transfers focus on the labor wedge more than ...
48
Coordination of Monetary and Fiscal Policy in the European Monetary Union
... on monetary and fiscal policy coordination, especially within the EMU, are of a relatively recent ...the monetary and the fiscal policy were regarded as alternative one to the ...
15
On (Sub) Optimal Monetary Policy Rules under Untied Fiscal Hands
... Differently from the case of a cost-push disturbance, primary deficit shocks generate an upswing both in output and inflation (see the lower-right panels of figures 1 and 2). Thus, we replicate the main analytical ...
29
Fiscal and Monetary Policy Interactions: Empirical Evidence and Optimal Policy Using a Structural New Keynesian Model
... of fiscal and monetary policy instruments to each other do tend to depend critically on the nature of the shocks hitting the ...two policy in- struments in response to unexpected shocks in the ...
40
Are Proposed African Monetary Unions Optimal Currency Areas? Real, Monetary and Fiscal Policy Convergence Analysis
... Borrowing from AON (2012), today some experts assert that knowledge to implement reforms needed for a single currency region is lacking in several central banks of the EAMZ. In a recent meeting, central bankers agreed on ...
32
Monetary conservatism and fiscal policy
... discusses monetary and fiscal policy interactions with and without commitment in a static framework where monetary and fiscal policy- makers interact only once, ...sequential optimal ...
43