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Where next for monetary policy? Lessons from the financial crisis and the pandemic
Minford, Patrick - 2023
Monetary developments of recent decades began with much promise with inflation targeting by independent central banks; the financial crisis of 2007 ushered in a period of great monetary instability. There are lessons for a return to more stability. Central banks need to stabilize money supply...
Persistent link: https://www.econbiz.de/10014480560
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Monetary and Fiscal Policy in a Large Asymmetric Monetary Union - A Dynamic Three-Country Analysis
Clausen, Volker; Wohltmann, Hans-Werner - 2005
This paper analyzes the dynamic effects of anticipated monetary and fiscal policies in a large monetary union, which is characterized by asymmetric interest rate transmission. We explicitly solve the asymmetric three-country model using the decomposition methods of Aoki (1981) and Fukuda (1993)....
Persistent link: https://www.econbiz.de/10010296252
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Dynamische Effekte der Geld-und Fiskalpolitik in einem asymmetrischen Drei-Länder-Modell mit einer Währungsunion
Wohltmann, Hans-Werner - 2005
In diesem Beitrag werden die intertemporalen Wirkungen von antizipierten geld- und fiskalpolitischen Maßnahmen im Rahmen eines asymmetrischen Drei-Länder-Modells vom Mundell-Fleming-Phillips-Typ mit rationalen Preis- und Wechselkursänderungserwartungen charakterisiert. Zwei der drei großen...
Persistent link: https://www.econbiz.de/10010296253
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What accounts for the changes in U.S. fiscal policy transmission?
Bilbiie, Florin O.; Meier, André; Müller, Gernot J. - 2006
Using vector autoregressions on U.S. time series for 1957-1979 and 1983-2004, we find government spending shocks to have stronger effects on output, consumption, and wages in the earlier sample. We try to account for this observation within a DSGE model featuring price rigidities and limited...
Persistent link: https://www.econbiz.de/10011604628
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Power of many: Assessing the economic impact of the global fiscal stimulus
De Resende, Carlos; Lalonde, René; Snudden, Stephen - 2010
The Bank of Canada Global Economy Model (BoC-GEM) is used to examine the effect of various types of discretionary …
Persistent link: https://www.econbiz.de/10010289704
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Growth Effects of Fiscal Policies - A Comparative Analysis in a Multi-Country Context
Brons, Martijn; de Groot, Henri L.F.M.; Nijkamp, Peter - 1999
The potential interactions among fiscal policies, investments and economicgrowth are complex and manifold.In this paper, we will perform a systematic comparative analysis of the variouseconomic insights that arecurrently available on these complex relationships, both theoretically (by aselective...
Persistent link: https://www.econbiz.de/10010324618
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Resource Windfalls, Macroeconmic Stability and Growth: The Role of Political Institutions
Arezki, Rabah; Hamilton, Kirk; Kazimov, Kazim - 2011
We use a new dataset on non-resource GDP to examine the performance of commodity-exporting countries in terms of macroeconomic stability and economic growth in a panel of up to 129 countries during the period 1970-2007. Our main findings are threefold. First, we find that overall government...
Persistent link: https://www.econbiz.de/10010280640
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Vietnam following in China's footsteps: The third wave of emerging Asian economies
Chaponnière, Jean-Raphael; Cling, Jean-Pierre; Zhou, Bin - 2008
Vietnam has been following China's path closely and very successfully for the last two decades, since the adoption of … the World Trade Organization (WTO). This paper addresses this question with regard to Vietnam, who joined the WTO at the … beginning of 2007: we study Vietnam's potential for sustainable growth and international integration. We start by briefly …
Persistent link: https://www.econbiz.de/10010273502
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Die Finanzkrise meistern - Wachstumskräfte stärken. Jahresgutachten 2008/09
2008
Persistent link: https://www.econbiz.de/10010314638
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The macroeconomic effects of fiscal policy
Afonso, António; Sousa, Ricardo M. - 2009
We investigate the macroeconomic effects of fiscal policy using a Bayesian Structural Vector Autoregression approach. We build on a recursive identification scheme, but we: (i) include the feedback from government debt (ii); look at the impact on the composition of output; (iii) assess the...
Persistent link: https://www.econbiz.de/10011605037