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Monetary-fiscal policy interactions when price stability occasionally takes a back seat
Schmidt, Sebastian - 2024
What are the macroeconomic consequences of a government that is limited in its willingness or ability to raise primary surpluses, and a central bank that accommodates its interest-rate policy to the fiscal conditions? I address this question in a dynamic stochastic sticky-price model with...
Persistent link: https://www.econbiz.de/10014484339
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The political economy under monetary union: has the euro made a difference?
Fratzscher, Marcel; Stracca, Livio - 2008
Economic and Monetary Union (EMU) has transformed Europe and has created an integrated pan-European economy. Much … political economy channel of EMU as the monetary union implies that member states had to transfer or at least curtail their … impact of political shocks on the domestic economy of member states but magnified the transmission of political shocks within …
Persistent link: https://www.econbiz.de/10003794175
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The role of money in monetary policy at the lower bound
Billi, Roberto M.; Söderström, Ulf; Walsh, Carl E. - In: Journal of money, credit and banking : JMCB 55 (2023) 4, pp. 681-716
Persistent link: https://www.econbiz.de/10014306106
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Dynamic fiscal limits and monetary-fiscal policy interactions
Battistini, Niccolò; Callegari, Giovanni; Zavalloni, Luca - 2019
This paper analyzes the impact of monetary policy on public debt sustainability through the lens of a general equilibrium model with fiscal limits. We find that the mere possibility of a binding ZLB may have detrimental effects on debt sustainability, as a kink in the Laffer curve induces a...
Persistent link: https://www.econbiz.de/10011997483
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What are the spill-overs from fiscal shocks in Europe?
Giuliodori, Massimo; Beetsma, Roel - 2004
We use a Vector Auto Regression (VAR) analysis to explore the (spill-over) effects of fiscal policy shocks in Europe. To enhance comparability with the existing literature, we first analyse the effects of these shocks at the national level. Here, we employ identification based on Choleski...
Persistent link: https://www.econbiz.de/10009636548
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Fiscal adjustment and inflation targeting in less developed countries
Buffie, Edward F.; Atolia, Manoj - In: Journal of money, credit and banking : JMCB 48 (2016) 8, pp. 1839-1875
Persistent link: https://www.econbiz.de/10011707959
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The monetary transmission mechanism at the euro-area level : issues and results using structural macroeconomic models
McAdam, Peter; Morgan, Julian - 2001
Persistent link: https://www.econbiz.de/10001637008
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The role of expectaitions in stabilization policy
Baxter, Marianne - In: Journal of monetary economics 15 (1985) 3, pp. 343-362
Persistent link: https://www.econbiz.de/10001879536
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What accounts for the changes in U.S. fiscal policy transmission?
Bilbiie, Florin O. (contributor); Meier, André (contributor) - 2006
Using vector autoregressions on U.S. time series for 1957-1979 and 1983-2004, we find government spending shocks to have stronger effects on output, consumption, and wages in the earlier sample. We try to account for this observation within a DSGE model featuring price rigidities and limited...
Persistent link: https://www.econbiz.de/10003274698
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What accounts for the changes in US fiscal policy transmission
Bilbiie, Florin Ovidiu; Meier, André; Müller, Gernot J. - In: Journal of money, credit and banking : JMCB 40 (2008) 7, pp. 1439-1469
Persistent link: https://www.econbiz.de/10003761417