We investigate U.S. monetary and fiscal policy interactions in a regime-switching model of monetary and fiscal policy … monetary policy disturbance strongly influences both monetary and fiscal policy regimes, and that monetary authority responds … to past fiscal policy regime. We also find substantial evidence that the U.S. monetary and fiscal authorities have been …

with financial frictions and fiscal policy to study these facts. We estimate the model using annual data for the U.S. and … volatile U.S. current account deficit. We also show that a countercylical fiscal policy rule that stabilizes output growth …

political acceptability, and do not worsen, or could help alleviate, budgetary pressures. Domestically, a fiscal policy package …

The fiscal policy response to the COVID-19 shock in most LAC countries was much larger than during the GFC, suggesting …

fiscal policy should best interact, in particular in an environment of structurally low interest rates and persistent … monetary-fiscal policy interactions in the euro area from a monetary policy perspective and with a focus on the ramifications … first chapter presents a conceptual framework for thinking about monetary-fiscal policy interactions, thereby setting the …

This paper considers fiscal policy during the pandemic through the lens of optimal social insurance. We develop a … structured, when and how much hazard pay is called for, and whether fiscal policy should aim just to redistribute income or also … insurance perspective on fiscal policy is likely to become increasingly relevant as pandemics and climate-related natural …