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"Unfunded liabilities" and uncertain fiscal financing

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Strategic Interactions in U.S. Monetary and Fiscal Policies

Chen, Xiaoshan - 2020

We estimate a model in which fiscal and monetary policy behavior arise from the optimizing behavior of distinct policy authorities, with potentially different welfare functions. Optimal time-consistent policy behavior fits U.S. time series at least as well as rules-based behavior. American...

Persistent link: https://www.econbiz.de/10012481395

Strategic interactions in U.S. monetary and fiscal policies

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Persistent link: https://www.econbiz.de/10012264199