Optimal fiscal-monetary policy
Optimal monetary and fiscal policy in economies with multiple distortions
... of monetary policy. Third, the optimal long-run tax policy is as robust to both price and wage rigidity as it was in the case of the sticky-price economy of Benigno and Woodford ...tax ...
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The Maastricht Criteria and Optimal Monetary and Fiscal Policy Mix for the EMU Accession Countries
... …scal policy does not issue any debt and taxes are assumed to be lump ...(2006) monetary and …scal policy is conducted in a fully coordinated way by a single policy ...
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Coordination of Monetary and Fiscal Policy in the European Monetary Union
... of monetary and fiscal policy in EMU are numerous, and are usually associated with the prevention of the aforementioned cross-border spillovers and negative externalities which the monetary ...
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Interactions of Economic Policy Instruments in Waemu: The Role of the Economic Cycle
... view, monetary and fiscal policies affect aggregate demand in the short ...between fiscal policy and monetary policy works both ...that fiscal policy affects ...
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Are Proposed African Monetary Unions Optimal Currency Areas? Real, Monetary and Fiscal Policy Convergence Analysis
... new monetary zones), we have found substantial insignificance in both types of ...common monetary policy initiatives and IMF backed financial reform programs are implemented differently across ...
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Economic Crises and the Substituion of Fiscal Policy by Monetary Policy
... the optimal tax ...which optimal policy can be represented by a “super-inertial” interest rate or by a pure “targeting ...that monetary policy should respond to increases in asset ...
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Is Optimal Monetary and Fiscal Policy in a Small Open Economy Time Consistent?
... studies optimal monetary and fiscal policy in a small open ...consistent optimal policy of ...consistency optimal policy of consumption and real money ...Thus, ...
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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] ...
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Optimal Fiscal and Monetary Rules in Normal and Abnormal Times
... Canonical Dynamic Stochastic General Equilibrium (DSGE) models typically predict scal multipliers well below the empirical range and a crowding-out eect on private consumption. The main reason for this is to be found in ...
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Interactions between inflation, monetary and fiscal policy
... situations in which the households find a positive demand for their own bonds), one cannot invoke an argument based on sub-optimal household’s lending decisions since, indeed, not taking advantage of an ...
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The Interaction of Monetary and Fiscal Policy: The Brazilian Case
... between monetary and fiscal policies has been restricted to the discussion between rules versus discretionary ...The optimal monetary policy rule assumes that the fiscal pol- icy ...
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Optimal monetary and fiscal policy rules, welfare gains and exogenous shocks in an economy with default risk
... exact policy, the difference in the target level output can be ignored (Panel ...false policy, the tax gap falls enough to boost output although under the exact policy it does not (Panel ...exact ...
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Optimal Cyclical Behavior of Monetary Policy of Iran: Using a DSGE Model
... of monetary policy is the corruption ...featuring fiscal dominance, is Huang and Wei’s (2006) model; because one of the most important theories in the macroeconomics literature, which theoretically ...
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Optimal Monetary and Fiscal Policy with Migration in a Currency Union
... Ramsey policy. Due to the under-accumulation of capital, optimal policy entails a subsidy on capital ...consider fiscal policy in a similar environment but when the government does not ...
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Optimal fiscal and monetary policy, debt crisis, and management
... of fiscal consolidation in the man- agement of a debt ...the optimal consolidation is very slow. A faster pace is optimal when the economy starts from a high level of public debt implying high ...
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Optimal monetary policy and fiscal policy interaction in a non Ricardian Economy
... that optimal monetary policy weakly responds to ...that optimal monetary policy faces a non-trivial tradeo¤ between the stabilization of output gap, in‡ation, the “consumption ...
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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] ...
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A fiscal stimulus with deep habits and optimal monetary policy
... with monetary policy, Table 1 reports the rules set out in Section ...the optimal policy. 5 To compute welfare-optimal policy subject to constraints in the case of ...
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Egypt Relative to the COMESA’s Member States: Do Fiscal Policy Rules Matter?
... an optimal monetary-fiscal policy mix within a monetary union through the stabilization of inflation by a sole central bank and the stabilization of fiscal policies through ...
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Macroeconomic policy interaction: State dependency and implications for financial stability in UK: A systemic review
... in policy interaction of combination is the Tinbergen Principle, according to which there should be equal numbers of instruments and ...of policy combination is based on Tinbergen ...additional ...
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