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Five-Equation Macroeconomics A Simple View of the Interactions Between Fiscal Policy and Monetary Policy
Kirsanova, Tatiana; Stehn, Sven Jari; Vines, David - Business School, University of Exeter - 2006
This paper studies the interactions of fiscal and monetary policy when they stabilise a single economy against shocks … in a dynamic setting. We assume that fiscal and monetary policies both stabilise the economy only by causing changes to … the fiscal authority allows monetary policy to perform nearly all of the burden of stabilising the economy. If the …
Persistent link: https://www.econbiz.de/10008852476
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Interest Rates and the Price Level
Leith, Campbell; Warren, Paul; Wren-Lewis, Simon - Business School, University of Exeter - 1997
Governments have often combined a monetary policy involving setting nominal interest rates with a fiscal policy that did not seek to target a nominal value of the debt stock. In a model with a traditional backward looking Phillips curve, this fiscal and monetary policy mix may not be stable. If...
Persistent link: https://www.econbiz.de/10008852324
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Optimal Fiscal Feedback on Debt in an Economy with Nominal Rigidities
Kirsanova, Tatiana; Wren-Lewis, Simon - Business School, University of Exeter - 2007
We examine the impact of different degrees of fiscal feedback on debt in an economy with nominal rigidities where …
Persistent link: https://www.econbiz.de/10008852509