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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

Optimal Fiscal Feedback on Debt in an Economy with Nominal Rigidities

Kirsanova, Tatiana; Wren-Lewis, Simon - Centre for Dynamic Macroeconomic Analysis, University … - 2006

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/10005807991

Optimal Fiscal Feedback on Debt in an Economy with Nominal Rigidities

Wren-Lewis, Simon; Kirsanova, Tatiana - Department of Economics, Oxford University - 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/10005090694

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

Computing Markov-Perfect Optimal Policies in Business-Cycle Models

Dennis, Richard; Kirsanova, Tatiana - Department of Economics, Adam Smith Business School - 2014

Time-inconsistency is an essential feature of many policy problems (Kydland and Prescott, 1977). This paper presents and compares three methods for computing Markov-perfect opti- mal policies in stochastic nonlinear business cycle models. The methods considered include value function iteration,...

Persistent link: https://www.econbiz.de/10011123580