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Fiscal volatility shocks and economic activity

Fernandez-Villaverde, Jesus; Guerron-Quintana, Pablo; … - Federal Reserve Bank of Philadelphia - 2011

The authors study the effects of changes in uncertainty about future fiscal policy on aggregate economic activity. Fiscal deficits and public debt have risen sharply in the wake of the financial crisis. While these developments make fiscal consolidation inevitable, there is considerable...

Persistent link: https://www.econbiz.de/10009216227

Soverign risk and the effects of fiscal retrenchment in deep recessions

Corsetti, Giancarlo; Kuester, Keith; Meier, Andre; … - Federal Reserve Bank of Philadelphia - 2011

The authors analyze the effects of government spending cuts on economic activity in an environment of severe fiscal strain, as reflected by a sizeable risk premium on government debt. Specifically, they consider a "sovereign risk channel," through which sovereign default risk spills over to the...

Persistent link: https://www.econbiz.de/10009320690

Restoring central banks after the crisis: Re-examining central bank orthodoxy for unorthodox times: Inaugural meeting of the Global Society of Fellows of the Global Interdependence...

Plosser, Charles I. - Federal Reserve Bank of Philadelphia - 2012

Presented at the Inaugural meeting of the Global Society of Fellows of the Global Interdependence Center, Banque de France, Paris, France, March 26, 2012

Persistent link: https://www.econbiz.de/10010727088

Fiscal policy and monetary policy: restoring the boundaries - U.S. Monetary Policy Forum, The Initiative on Global Markets, University of Chicago Booth School of Business, New York...

Plosser, Charles I. - Federal Reserve Bank of Philadelphia - 2012

Presented at the U.S. Monetary Policy Forum, The Initiative on Global Markets University of Chicago Booth School of Business, New York, New York, February 24, 2012

Persistent link: https://www.econbiz.de/10010727106

A perspective on the U.S. economic outlook and monetary policy

Plosser, Charles I. - Federal Reserve Bank of Philadelphia - 2013

Presented by Charles I. Plosser, President and Chief Executive Officer, Federal Reserve Bank of Philadelphia, SNS (Center for Business and Policy Studies) and SIFR (The Institute for Financial Research), Stockholm, Sweden

Persistent link: https://www.econbiz.de/10010727158

Macroeconomic dynamics near the ZLB: a tale of two equilibria

Aruoba, S. Boragan; Schorfheide, Frank - Federal Reserve Bank of Philadelphia - 2013

deflation equilibrium as well as a Markov sunspot equilibrium that switches between a targeted-inflation and a deflation regime … lower bound (ZLB) on nominal interest rates. In addition to the standard targeted-inflation equilibrium, we consider a … assumptions that the U.S. economy has been in either the targeted-inflation or the sunspot equilibrium. We consider a combination …

Persistent link: https://www.econbiz.de/10010681653

Floats, pegs and the transmission of fiscal policy

Corsetti, Giancarlo; Kuester, Keith; Muller, Gernot J. - Federal Reserve Bank of Philadelphia - 2011

spending if inflation rises initially. This response drives down private demand even though short-term real rates fall. As this …

Persistent link: https://www.econbiz.de/10008852842

A perspective on the U.S. economic outlook and monetary policy

Plosser, Charles I. - Federal Reserve Bank of Philadelphia - 2013

Presented by Charles I. Plosser, President and Chief Executive Officer, Federal Reserve Bank of Philadelphia, Global Interdependence Center's Central Banking Series: Recovery 2013 — Strength or Stagnation?, Milan, Italy, May 16, 2013 ; Note: President Plosser presented similar remarks on May...

Persistent link: https://www.econbiz.de/10011026977