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purchases have similar effects on the real economy under monetary and fiscal dominance, wealth effects yield a qualitatively …. The longer the average maturity, the more volatile is the transmission of quantitative easing to the real economy. …
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We use event study regressions to compare the impact of EU monetary versus fiscal policy announcements on government bond spreads of ten euro member countries. Our motivation is to evaluate which of the two players - the ECB or the EU fiscal level - has been more crucial for the stabilization of...
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We study the impact of the interaction between fiscal and monetary policy on the low-frequency relationship between the fiscal stance and inflation using crosscountry data from 1965 to 1999. In a first step, we contrast the monetary-fiscal narrative for Germany, the U.S. and Italy with evidence...
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sign restrictions. Our results suggest that the sovereigns' fiscal positions improve in response to the economy expansion …
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