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be crucial for the credibility of an exchange rate peg. We develop a model within which fiscal policy plays a crucial … role for ensuring the viability and thus credibility of an exchange rate peg. We use the insights of this model to take a …
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In recent years the theory of rules and discretion in monetary policy has fascinated academic economists and policy-makers alike. This paper asks whether it can be applied to an understanding of the history of the world monetary system, by focusing on the establishment and the operation of the...
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Abstract In light of the rising political and economic uncertainty in Europe, we aim to provide a basic understanding of the impact of policy and stock market uncertainty on a set of macroeconomic variables such as production and investment. In this paper, we apply a structural vector...
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