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Remarks at Queens Chamber of Commerce and Queens Economic Development Corporation, Flushing, New York City.
Persistent link: https://www.econbiz.de/10010724943
quantitatively three potential determinants of the U.S. external imbalances in the last three decades: productivity growth …, demographic factors, and fiscal policy. The results suggest that (1) productivity growth differentials are the main driving force …
Persistent link: https://www.econbiz.de/10005726628
Persistent link: https://www.econbiz.de/10001751995
Persistent link: https://www.econbiz.de/10001752001
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involving U.S. inflation and GDP growth. Empirical results suggest that the number of change points is larger than previously …
Persistent link: https://www.econbiz.de/10002521761
This paper examines how the scale and composition of public debt can affect economies that implement a combination of “passive” monetary policy and “active” fiscal policy. This policy configuration is argued to be of both historical and contemporary interest in the cases of the U.S. and...
Persistent link: https://www.econbiz.de/10009320709
This paper proposes a theory of the fiscal foundations of inflation based on imperfect knowledge and learning. The … scale and composition of the public debt, matter for inflation. As a result, fiscal policy constrains the efficacy of … monetary policy to anchor inflation expectations. The model predicts that the Great Moderation period would not have been so …
Persistent link: https://www.econbiz.de/10010702291
Remarks at the Japan Society, New York City.
Persistent link: https://www.econbiz.de/10010724938