18 results with keyword: 'fiscal rules monetary policy dynamic stochastic general equilibrium'
As with lump-sum taxation, the Taylor principle is valid (ie the model’s equilibrium is stable and determinate if the interest rate reaction of monetary policy to changes in
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Bolivia’s fiscal rules: dynamic stochastic general equilibrium model approach. Daney, Valdivia and
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In this study we estimate a Dynamic Stochastic General Equilibrium (DSGE) model using Bayesian techniques to analyse the effects of monetary and fiscal policy in Morocco.. The
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In this case, domestic debt, foreign debt, total consumption, rule – of –thumb households, ricardian households, investment, capital, nominal interest rate , labor,
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We investigate the response of domestic output, taxes, inflation, monetary policy instrument and other variables to government borrowing shock.. We estimate the parameters
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state bank of Pakistan adopt tight monetary policy by keeping interest rate high in order to control the ruthless spending and government borrowing from the central and
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Angas Securities executive chairman Andrew Luckhurst-Smith said Mr Hower’s moves to sell those luxury assets were “absolutely not” related to the health of Angas, that the yacht
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Korea Advanced Institute of Science and Technology 1 st Research Institute in Korea. (1971
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Employing a Dynamic Stochastic General Equilibrium model, the study shows that a monetary policy shock in the form of an unanticipated rise in the interest rate
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In this sense, this paper examines the impact of fiscal policy on output, consumption, private investment and foreign trade, using a Dynamic Stochastic
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Most of New Keynesian dynamic stochastic general equilibrium (DSGE) models cur- rently in use for studying monetary policy assume that agents, including the central bank, know
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We specify a dynamic, stochastic, general equilibrium model that combines monetary policy shocks with taxes on nominal capital gains in a setting where the central bank implements
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Adopting this traditional econometric interpretation, Bayesian full information maximum likelihood estimation of a linear state space representation of an approximate
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Whether this estimated DSGE model approximately accounts for the empirical evidence concerning the monetary transmission mechanism in a small open economy is determined by
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With regard to trade, Gali and Monacelli (2005), in a benchmark study of monetary policy in a small open economy using a dynamic stochastic general equilibrium (DSGE) model
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It is therefore the basic thrust of this paper to evaluate monetary policy – trade offs in Nigeria using a dynamic stochastic general equilibrium (DSCE) model estimated on data
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To this end we construct and estimate a dynamic stochastic general equilibrium model of economic growth and endogenously chosen fiscal policy consisting of a private sector and
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