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A Simple Dynamic Model of Credit and Aggregate Demand

Diaz-Bautista, Alejandro; Escandon, Julio R. - EconWPA - 2003

The purpose of the paper is to present a tractable model of an old topic which is becoming more important in macroeconomics: the link between financial structure and economic activity.

Persistent link: https://www.econbiz.de/10005126180

Monetary and Fiscal Policy Dynamics in an Asymmetric Monetary Union

Clausen, Volker; Wohltmann, Hans-Werner - EconWPA - 2002

This paper investigates the dynamic effects of monetary and fiscal policy in a monetary union, which is characterized by asymmetric interest rate transmission. This asymmetry gives rise to intertemporal reversals in the relative effectiveness of policy on member country outputs. The direction...

Persistent link: https://www.econbiz.de/10005126325

Monetary and fiscal policy interaction and government debt stabilization

Bovenberg, A.L.Bovenberg; van Aarle, B.; Raith, M. - Tilburg University, Center for Economic Research - 1995

In many developing and developed countries, government debt stabilization is an important policy issue. This paper models the strategic interaction between the monetary authorities who control monetization and the fiscal authorities who control primary fiscal deficits. Government debt dynamics...

Persistent link: https://www.econbiz.de/10011092845

Designing fiscal and monetary institutions in a second-best world

Bovenberg, A.L.Bovenberg; Beetsma, R.M.W.J. - Tilburg University, Center for Economic Research - 1995

features of an economy, such as money holdings, outstanding public debt, labor-market distortions, society s preferences, and …

Persistent link: https://www.econbiz.de/10011090885

The interaction of fiscal and monetary policy in a monetary union : Balancing credibility and flexibility

Bovenberg, A.L.Bovenberg; Beetsma, R.M.W.J. - Tilburg University, Center for Economic Research - 1995

This paper explores how decentralized, national fiscal policies interact with a common monetary policy in a monetary union. We show that fiscal policy plays a more important ro le in stabilizing country-specific shocks than with national monetary policies. Whereas monetary u nification with an...

Persistent link: https://www.econbiz.de/10011090899

Designing fiscal and monetary institutions for a European Monetary Union

Bovenberg, A.L.Bovenberg; Beetsma, R.M.W.J. - Tilburg University, Center for Economic Research - 1995

EMU increases with convergence of structural and fiscal policies, small money holdings, a conservative European Central …

Persistent link: https://www.econbiz.de/10011092176

Monetary union without fiscal coordination may discipline policymakers

Bovenberg, A.L.Bovenberg; Beetsma, R.M.W.J. - Tilburg University, Center for Economic Research - 1995

We show that, with benevolent policymakers and fiscal leadership, monetary unification reduces inflation, taxes and public spending. These disciplining effects of a monetary union, which rise with the number of fiscal players in the union, are likely to raise welfare. Joining an optimally...

Persistent link: https://www.econbiz.de/10011092286

Money and growth revisited

Alogoskoufis, G.S.; van der Ploeg, F. - Tilburg University, Center for Economic Research - 1991

Persistent link: https://www.econbiz.de/10011245990

Exchange Rate Floating and Inflation Targeting Implementing - Lessons from a succesful transition - The Brazilian Case

Deheza, Juan Carlos Soldano - EconWPA - 2003

El objetivo de este paper es realizar una descripción del caso brasileño, en lo que hace a la salida de un sistema en el cual el ancla nominal de la economía era un tipo de cambio semi-fijo, hacia un régimen de flotación “cuasi” limpia de la moneda, en el que el ancla de la economía...

Persistent link: https://www.econbiz.de/10005076607

A look at exchange rate and monetary policy in Malawi

Simwaka, Kisu - EconWPA - 2004

effective exchange rate misalignment. The results show that excess money supply predict real effective exchange rate …, money supply growth and real effective exchange rate misalignment. The adjustment speed from the error correction term is … consistent with a market-determined exchange rate responding to excess money supply. Keywords: Exchange Rate; Monetary Policy …

Persistent link: https://www.econbiz.de/10005076782