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Optimal fiscal and monetary policy : equivalence results

Correia, Isabel Horta (contributor); … - 2002 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10001761447

Sharing the burden: monetary and fiscal responses to a world liquidity trap

Cook, David; Devereux, Michael B. - Federal Reserve Bank of Dallas - 2011

interest rates" to fall below zero in all countries, giving rise to a global "liquidity trap." This paper explores the optimal …. ; The key feature of demand shocks in a liquidity trap is that relative prices respond perversely. A negative shock causes … response to conditions generating a global liquidity trap, there is a critical mutual interaction between monetary and fiscal …

Persistent link: https://www.econbiz.de/10009292929

Some alternative perspectives on macroeconomic theory and some policy implications

White, William R. - Federal Reserve Bank of Dallas - 2010

The macroeconomic theories and models favoured by academics, as well as those used more commonly by policymakers, effectively rule out by assumption economic and financial crises of the sort we are living through. In particular, the longer run dangers posed by the rapid expansion of credit and...

Persistent link: https://www.econbiz.de/10008598684

Buy a ticket! (with reference to the Strauss Brothers, Ambassador Mike Moore, Kenneth Arrow, financial sharpies, Martin Luther King Jr. and Gov. Dewey)

Fisher, Richard W. - Federal Reserve Bank of Dallas - 2011

Remarks before the Dallas Friday Group, Dallas, Texas, October 21, 2011 ; "Absent some shock, I envision a slow but steady improvement in the economy into 2012. That is, if our fiscal authorities will remove their stranglehold on clarifying fiscal initiatives. If not, then, in my view, I expect...

Persistent link: https://www.econbiz.de/10010723065

Racing to the top: how global competition disciplines public policy

Fisher, Richard W. - Federal Reserve Bank of Dallas - 2006

Remarks before the Dallas Friday Group, Dallas, Texas, April 11, 2006 ; "Competition brings benefits to the public sector the same way it does the private sector. Because factors of production are increasingly mobile in an era of globalization, governments vie to gain and hold onto them. Mobile...

Persistent link: https://www.econbiz.de/10010723067

Comments on current conundra

Fisher, Richard W. - Federal Reserve Bank of Dallas - 2007

Remarks to the 2007 Annual Conference of the Investment Adviser Association, Austin, Texas, April 26, 2007 ; "Many options would improve the fiscal fitness of our entitlement system and reduce the need for drastic action elsewhere in the federal budget. But let's be honest. These remedies work...

Persistent link: https://www.econbiz.de/10010725998

The limits of monetary policy: 'Monetary policy responsibility cannot substitute for government irresponsibility'

Fisher, Richard W. - Federal Reserve Bank of Dallas - 2011

Remarks before a luncheon meeting of the Manhattan Institute and e21, New York City, January 12, 2011 ; "The key to correcting the underperformance of the American economy and American job creation does not rest with the Federal Reserve. It is in the hands of those who make fiscal and regulatory...

Persistent link: https://www.econbiz.de/10010726047

Fiscal deficits, debt, and monetary policy in a liquidity trap

Devereux, Michael B. - Federal Reserve Bank of Dallas - 2010

interest rates. Given that the liquidity trap is generated by a large increase in the desire to save on the part of the private … financed by deficits may be far more expansionary than that financed by tax increases in such an environment. In a liquidity …

Persistent link: https://www.econbiz.de/10008475891

Insulation impossible: fiscal spillovers in a monetary union

Cooper, Russell; Kempf, Hubert; Peled, Dan - Federal Reserve Bank of Dallas - 2009

This paper studies the effects of monetary policy rules in a monetary union. The focus of the analysis is on the interaction between the fiscal policy of member countries (regions) and the central monetary authority. When capital markets are integrated, the fiscal policy of one country will...

Persistent link: https://www.econbiz.de/10005009937

Fiscal stabilization with partial exchange rate pass-through

Kersting, Erasmus K. - Federal Reserve Bank of Dallas - 2009

This paper examines the role of fiscal stabilization policy in a two-country framework that allows for a general degree of exchange rate pass-through. I derive analytical solutions for optimal monetary and fiscal policy which are shown to depend on the degree of pass-through. In the case of...

Persistent link: https://www.econbiz.de/10005009940