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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
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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
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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
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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
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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
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Macroeconomic dynamics near the ZLB: a tale of two equilibria
Aruoba, S. Boragan; Schorfheide, Frank - Federal Reserve Bank of Philadelphia - 2013
lower bound (ZLB) on nominal interest rates. In addition to the standard targeted-inflation equilibrium, we consider a … deflation equilibrium as well as a Markov sunspot equilibrium that switches between a targeted-inflation and a deflation regime … 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
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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
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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
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Monetary policy: decision-making, tools, and objectives
Anderson, Clay J. - 1961
Persistent link: https://www.econbiz.de/10002956434
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Economic insights
Federal Reserve Bank of Philadelphia - Philadelphia, Pa. : Federal Reserve Bank of Philadelphia - Volume 1, issue 1 (1st quarter 2016)-
Persistent link: https://www.econbiz.de/10012207426