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This paper investigates the consequences of debt stabilization for inflation targeting. If the monetary authority … perfectly stabilizes inflation while the fiscal authority holds constant the real value of debt at maturity, the equilibrium … inflation targeting appears to be more robust than flexible debt targeting to alternative parameter configurations and steady …
Persistent link: https://www.econbiz.de/10005420654
The Eurosystem and the U.S. Federal Reserve System follow quite different approaches to the execution of monetary policy. The former institution adopts a "hands-off" approach that largely delegates to depository institutions the task of stabilizing their own liquidity at high frequency. The...
Persistent link: https://www.econbiz.de/10001752004
realistic parameter values, the model generates a blip in inflation of the same magnitude observed in the data"--Federal Reserve …
Persistent link: https://www.econbiz.de/10002521760
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
Remarks at Queens Chamber of Commerce and Queens Economic Development Corporation, Flushing, New York City.
Persistent link: https://www.econbiz.de/10010724943
Remarks at the Economic Club of New York, New York City.
Persistent link: https://www.econbiz.de/10010724951
Remarks before the Morris County Chamber of Commerce, Florham Park, New Jersey.
Persistent link: https://www.econbiz.de/10010724958
Remarks at the Quarterly Regional Economic Press Briefing, New York City.
Persistent link: https://www.econbiz.de/10010724962
Remarks at E-3 Summit of the Americas: Export Trade Basics Forum 101, San Juan, Puerto Rico.
Persistent link: https://www.econbiz.de/10010724968
Remarks before the Bronx Chamber of Commerce at the New York Botanical Garden, Bronx, New York.
Persistent link: https://www.econbiz.de/10010724974