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Persistent link: https://www.econbiz.de/10012155380
cannot detect a signi.cant contribution of fiscal policies in stabilizing the US economy. For instance, the 2007-2009 large …
Persistent link: https://www.econbiz.de/10011434680
Monetary policy leaves a fiscal footprint. In some circumstances, relieving the fiscal burden becomes the main goal of policy, and inflation control is subordinate. This article notes that the same is true of macroprudential policy, and it characterizes the size and sign of its fiscal footprint,...
Persistent link: https://www.econbiz.de/10012222608
This study investigates the evolution of central bank profits as fiscal revenue (or: seigniorage) before and in the aftermath of the global financial crisis of 2008-9, focusing on a select group of central banks - namely the Bank of England, the United States Federal Reserve System, the Bank of...
Persistent link: https://www.econbiz.de/10011910944
Persistent link: https://www.econbiz.de/10003589069
Bank of India (RBI) in light of developments in the Indian economy during the last decade (2003-04 to 2013-14). The paper …
Persistent link: https://www.econbiz.de/10010436173
This paper reviews the performance of the euro area since the euro's launch 20 years ago. It argues that the euro crisis has exposed existential flaws in the euro regime. Intra-area divergences and the corresponding buildup of imbalances had remained unchecked prior to the crisis. As those...
Persistent link: https://www.econbiz.de/10011894027
This paper reconsiders fiscal policy effectiveness in light of the recent economic crisis. It examines the fiscal policy approach advocated by the economics profession today and the specific policy actions undertaken by the Bush and Obama administrations. An examination of the labor market...
Persistent link: https://www.econbiz.de/10008906599
for fiscal intervention to rescue the economy, Chancellor Angela Merkel's government was overdue with corrective measures …. This paper explains Germany's hesitancy to protect its economy, which has been based on a political and historical ideology … that that rejects issuing new public debt to increase public spending, thus leaving the economy exposed to the doldrums …
Persistent link: https://www.econbiz.de/10012165421
efforts to prevent the meltdown of markets, banks, and the economy. Fiscal packages, in varied sizes, have been adopted …
Persistent link: https://www.econbiz.de/10008657988