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Forward guidance at the zero lower bound in a model of price-level targeting
Illing, Gerhard; Siemsen, Thomas - In: CESifo economic studies : CESifo, a joint initiative of … 62 (2016) 1, pp. 47-67
We study monetary policy at the zero lower bound in a traceable three-period model, in which price-level targeting emerges endogenously in the welfare function. We characterize optimal price-level forward guidance under discretion and commitment. Potentially non-monotonic discretionary welfare...
Persistent link: https://www.econbiz.de/10011458706
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Gambling to preserve price (and fiscal) stability
Maćkowiak, Bartosz; Corsetti, Giancarlo - 2022
Persistent link: https://www.econbiz.de/10013407528
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Expectations formation, sticky prices, and the ZLB
Bersson, Elizabeth; Hürtgen, Patrick; Paustian, Matthias - In: Journal of money, credit and banking : JMCB 56 (2024) 2/3, pp. 365-393
Persistent link: https://www.econbiz.de/10014544025
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Inflation stabilization and default risk in a currency union
Okano, Eiji; Hamano, Masashige - In: Macroeconomic dynamics 22 (2018) 7, pp. 1790-1807
Persistent link: https://www.econbiz.de/10011918177
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Passive monetary policy and active fiscal policy in a monetary union
Maćkowiak, Bartosz; Schmidt, Sebastian - 2022
Persistent link: https://www.econbiz.de/10012816964
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Fiscal multipliers in a monetary union under the zero-lower-bound constraint
Flotho, Stefanie - In: Macroeconomic dynamics 19 (2015) 6, pp. 1171-1194
Persistent link: https://www.econbiz.de/10011439753
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Fiscal policy coordination in currency unions at the effective lower bound
Hettig, Thomas; Müller, Gernot J. - In: Journal of international economics 115 (2018), pp. 80-98
Persistent link: https://www.econbiz.de/10012038073
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Covid-19 shock and fiscal-monetary policy mix in a monetary union
Bartocci, Anna; Notarpietro, Alessandro; Pisani, … - In: Economic Challenges for Europe After the Pandemic : …, (pp. 233-266). 2022
Persistent link: https://www.econbiz.de/10013440676
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The fiscal theory of the price level in a non-Ricardian economy
Aloui, Rym; Guillard, Michel - In: Annals of economics and statistics 137 (2020), pp. 65-82
Persistent link: https://www.econbiz.de/10012602501
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Effects of state-dependent forward guidance, large-scale asset purchases, and fiscal stimulus in a low-interest-rate environment
Coenen, Günter; Montes-Galdón, Carlos; Smets, Frank - In: Journal of money, credit and banking : JMCB 55 (2023) 4, pp. 825-858
Persistent link: https://www.econbiz.de/10014306115