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International Coordination in the Design of Macroeconomic Policy Rules

Taylor, John B. - 1984

The paper examines international issues that arise in the design and evaluation of macroeconomic policy rules. It begins with a theoretical investigation of the effects of fiscal and monetary policy in a two-country rational expectations model with staggered wage and price setting and with...

Persistent link: https://www.econbiz.de/10012477580

The Open Economy : Implications for Monetary and Fiscal Policy

Dornbusch, Rudiger - 1984

rest of the world. In this paper we show how the standard closed-economy macroeconomic model -- the Phillips curve … augmented IS-LM analysis -- has to be modified for the United States to take account of the economy's international interactions … effects are in practice significantly large for the United States economy …

Persistent link: https://www.econbiz.de/10012477667

Measuring Aspects of Fiscal and Financial Policy

Buiter, Willem H. - 1984

The paper develops a forward-looking comprehensive accounting framework for the public sector.By integrating the public sector budget constraint forward in time the government's present value budget constraint (PVBC) is obtained. In addition to the familiar financial assets and liabilities,...

Persistent link: https://www.econbiz.de/10012477762

On the Relevance or Irrelevance of Public Financial Policy : Indexation,Price Rigidities and Optimal Monetary Policy

Stiglitz, Joseph E. - 1983

This paper is concerned with delineating conditions under which public financial policies have no real and/or price effects. In the absence of intergenerational distribution effects, public financial policy is irrelevant:an increase in government debt (whether indexed or not), an exchange of...

Persistent link: https://www.econbiz.de/10012477996

Issues in the Coordination of Monetary and Fiscal Policy

Blinder, Alan S. - 1982

coordination is often equated with looser money and tighter fiscal policy, two econometric models of the economy are used to …

Persistent link: https://www.econbiz.de/10012478123

The Fiscal Framework of Monetary Policy

Feldstein, Martin - 1982

with the short-run impact of changes in monetary policy. Here again the fiscal structure complicates the economy's response …

Persistent link: https://www.econbiz.de/10012478139

Monetary and Fiscal Policy with Flexible Exchange Rates

Branson, William H. - 1982

If price decisions are taken neither continuously nor in perfect synchronization, the process of adjustment of all prices to a new nominal level will imply temporary movements in relative prices. It might then well be that, to avoid these movements in relative prices, each price setter will want...

Persistent link: https://www.econbiz.de/10012478207

Monetary and Fiscal Policies in an Open Economy

Frenkel, Jacob A. - 1980

economy macroeconomics (as developed largely by James Meade, Robert Mundell, and J. Marcus Fleming) and of more recent …, we shall not analyze how these conditions are modified in an open economy. However, since our concern is with macro …

Persistent link: https://www.econbiz.de/10012478558

The Roles of Monetary, Financial and Fiscal Policy with Rational Expectations

Buiter, Willem H. - 1979

The setup of the paper is as follows: Section I presents a fairly standard, small deterministic macromodel with a number of classical features. All markets clear instantaneously, there is no money illusion, and perfect foresight rules. The effects of monetary, financial, and fiscal policies in...

Persistent link: https://www.econbiz.de/10012478735

Fiscal Policies, Inflation and Capital Formation

Feldstein, Martin - 1978

Three ways of averting "excess saving" have been emphasized in both theory and practice. The thrust of the Keynesian prescription was to increase the government deficit to provide demand for the resources that would not otherwise be used for either consumption or investment. In this way,...

Persistent link: https://www.econbiz.de/10012478874