Narrow search
Showing 1 - 10 of 602
Cover Image
On Optimal Stabilization Policy and Nominal Income Targets in an Open Economy
Alogoskoufis, George - C.E.P.R. Discussion Papers - 1988
This paper considers optimal stabilization policy and nominal income targets for an open economy where the authorities …
Persistent link: https://www.econbiz.de/10005497917
Cover Image
Some Stylized Facts on Non-Systematic Fiscal Policy in the Euro Area
Marcellino, Massimiliano - C.E.P.R. Discussion Papers - 2002
We derive a set of stylized facts on the effects of non-systematic fiscal policy in the four largest countries of the Euro area, and discuss their implications for the fiscal policy coordination debate, for the effectiveness of fiscal shocks in stabilizing the economies, and for the interaction...
Persistent link: https://www.econbiz.de/10005498152
Cover Image
On Optimal World Stabilization and the Target Zones Proposal
Alogoskoufis, George - C.E.P.R. Discussion Papers - 1987
In this paper I examine issues of optimal stabilization in two types of world economy, a competitive one where all … monetary policy should be assigned to the objective of international monetary stability and domestic stabilization policies to … additional constraint imposed by target zones might hinder rather than promote world stabilization. However, if the only country …
Persistent link: https://www.econbiz.de/10005281296
Cover Image
The Science of Monetary Policy: A New Keynesian Perspective
Clarida, Richard; Galí, Jordi; Gertler, Mark - C.E.P.R. Discussion Papers - 1999
This paper reviews the recent literature on monetary policy rules. We exposit the monetary policy design problem within a simple baseline theoretical framework. We then consider the implications of adding various real world complications. Among other things, we show that the optimal policy...
Persistent link: https://www.econbiz.de/10005666476
Cover Image
How Effective Is Monetary Transmission in Developing Countries? A Survey of the Empirical Evidence
Mishra, Prachi; Montiel, Peter J; Spilimbergo, Antonio - C.E.P.R. Discussion Papers - 2011
doubt whether methodological shortcomings are the whole story. If this conjecture is correct, the stabilization challenge in …
Persistent link: https://www.econbiz.de/10009322980
Cover Image
Macroeconomic Responses by Developing Countries to Changes in External Economic Conditions
Buiter, Willem H. - C.E.P.R. Discussion Papers - 1986
The paper presents a non-technical survey of some of the issues involved in the design of stabilization policy in … capital controls and incomes policy). Finally, there is a discussion of stabilization responses to four external shocks: a …
Persistent link: https://www.econbiz.de/10005661802
Cover Image
Monetary Misconceptions: New and Old Paradigmata and Other Sad Tales
Buiter, Willem H. - C.E.P.R. Discussion Papers - 2000
Several recent studies imply that the response of national saving to fiscal policy is non-monotonic. In this paper, we use two data sets to search for the circumstances in which such non-monotonic responses arise: one refers to a sample of OECD countries, as in previous studies, and one to a...
Persistent link: https://www.econbiz.de/10005124252
Cover Image
Infrastructure and Public Utilities Privatization in Developing Countries
Auriol, Emmanuelle; Picard, Pierre M - C.E.P.R. Discussion Papers - 2006
The paper analyses governments’ trade-off between fiscal benefits and consumer surplus in privatization reforms of noncompetitive industries in developing countries. Under privatization, the control rights are transferred to private interests so that public subsidies decline. This benefit for...
Persistent link: https://www.econbiz.de/10005124293
Cover Image
Economic Performance and Stabilization Policy in a Monetary Union with Imperfect Labour and Goods Markets
Coricelli, Fabrizio; Cukierman, Alex; Dalmazzo, Alberto - C.E.P.R. Discussion Papers - 2001
union in the presence of stabilization policy, unionized labour markets and monopolistically competitive price setting firms … and a unified stabilization policy are evaluated. …
Persistent link: https://www.econbiz.de/10005504756
Cover Image
Non-Keynesian Effects of Fiscal Policy Changes: International Evidence and the Swedish Experience
Giavazzi, Francesco; Pagano, Marco - C.E.P.R. Discussion Papers - 1995
In earlier work we documented two episodes in which a sharp fiscal consolidation was associated with a surprisingly large expansion in private domestic demand. In this paper we draw on further evidence to investigate if and when fiscal policy changes can have such non-Keynesian effects. In the...
Persistent link: https://www.econbiz.de/10005136472