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Is a global recession imminent?
Guénette, Justin Damien; Kose, M. Ayhan; Sugawara, Naotaka - 2022
Persistent link: https://www.econbiz.de/10013382332
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Global stagflation
Ha, Jongrim; Kose, M. Ayhan; Ohnsorge, Franziska - 2022
Persistent link: https://www.econbiz.de/10013262657
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New-Keynesian Economics : An As-Ad View
Benigno, Pierpaolo - 2010
economy is depressed because some agents are deleveraging, fiscal policy is more powerful and the multiplier can be quite big …
Persistent link: https://www.econbiz.de/10012757664
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The constraint on public debt when r < g but g < m
Reis, Ricardo - 2021
Persistent link: https://www.econbiz.de/10012493280
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From Great Depression to Great Credit Crisis : Similarities, Differences and Lessons
Almunia, Miguel - 2009
The Great Depression of the 1930s and the Great Credit Crisis of the 2000s had similar causes but elicited strikingly different policy responses. It may still be too early to assess the effectiveness of current policy responses, but it is possible to analyze monetary and fiscal policies in the...
Persistent link: https://www.econbiz.de/10013153988
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Understanding the Fiscal Theory of the Price Level
Christiano, Lawrence J.; Fitzgerald, Terry J. - 2021
Persistent link: https://www.econbiz.de/10013223567
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Interest Rate Implications for Fiscal and Monetary Policies : A Postscript on the Government Budget Constraint
Friedman, Benjamin M. - 2021
An earlier paper by the author investigated the quantitative implications, for the effectiveness of fiscal and monetary policies, of a model treating the determination of long-term interest rates by explicitly imposing the market clearing equilibrium condition that the quantity of bonds issued...
Persistent link: https://www.econbiz.de/10013225039
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Optimal Inflation Targeting Under Alternative Fiscal Regimes
Benigno, Pierpaolo; Woodford, Michael - 2021
Standard discussions of flexible inflation targeting as an optimal monetary policy abstract completely from the consequences of monetary policy for the government budget. But at least some of the countries now adopting inflation targeting have substantial difficulty in controlling fiscal...
Persistent link: https://www.econbiz.de/10013238733
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Before the Accord : U.S. Monetary-Financial Policy 1945-51
Eichengreen, Barry; Garber, Peter M. - 2021
Thia paper analyzes U.S. monetary-financial policy in the period leading up to the Treasury-Fed Accord. We model policy as an implicit target zone for the price level and an explicit zone for interest rates, and the difficulties on the eve of the Accord as an incipient run on a collapsing...
Persistent link: https://www.econbiz.de/10013211663
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The Economic Consequences of the Franc Poincare
Eichengreen, Barry; Wyplosz, Charles - 2021
In this paper we reassess the cyclical performance of the French economy in the 1920s, focusing in particular on the … exports as a share of GDP turned down as early as 1928, the economy continued to expand for several subsequent years …. Investment, not exports, emerges as the proximate source of the French economy's resistance to the Great Depression. And fiscal …
Persistent link: https://www.econbiz.de/10013215366