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Shotgun Wedding : Fiscal and Monetary Policy
Bassetto, Marco - 2020
interest rates by critically surveying theories about (a) optimal anticipated inflation, (b) optimal unanticipated inflation …
Persistent link: https://www.econbiz.de/10012481961
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Singapore : 2021 Article IV consultation : press release; staff report; and statement by the Executive Director for Singapore
Internationaler Währungsfonds - 2021
Singapore entered the COVID-19 pandemic with sizable policy space and robust economic policy frameworks, yet facing …
Persistent link: https://www.econbiz.de/10012604417
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Argentina : ex-post evaluation of exceptional access under the 2018 stand-by arrangement : press release and staff report
Internationaler Währungsfonds - 2021
On June 20, 2018, the Executive Board approved the largest stand-by arrangement in the Fund's history, in support of Argentina's 2018-21 economic program. After an augmentation in October 2018, access under the arrangement amounted to USD 57 billion (1,227 percent of Argentina's IMF quota). The...
Persistent link: https://www.econbiz.de/10013169527
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Understanding the Fiscal Theory of the Price Level
Christiano, Lawrence J. - 2000
Persistent link: https://www.econbiz.de/10012471099
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New-Keynesian Economics : An AS-AD View
Benigno, Pierpaolo - 2009
A simple New-Keynesian model is set out with AS-AD graphical analysis. The model is consistent with modern central banking, which targets shortterm nominal interest rates instead of money supply aggregates. This simple framework enables us to analyze the economic impact of productivity or markup...
Persistent link: https://www.econbiz.de/10012463823
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Optimal Monetary and Fiscal Policy in a Currency Union
Gali, Jordi - 2005
policy requires that inflation be stabilized at the union level. On the other hand, the relinquishment of an independent …
Persistent link: https://www.econbiz.de/10012466856
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The Case for Price Stability
Goodfriend, Marvin - 2001
on a number of grounds which we evaluate in this paper. We show that observed inflation persistence in U.S. time series … is consistent with the absence of structural inflation stickiness as is the case in the benchmark NNS economy. We …
Persistent link: https://www.econbiz.de/10012470296
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Georgia : eighth review under the extended fund facility arrangement : press release; and staff report
Internationaler Währungsfonds - 2021
Georgia has emerged from its second lockdown that was imposed in November 2020 following a sharp increase in COVID-19 cases. Vaccinations commenced in March 2021 and the country is now entering a critical stage in overcoming the pandemic. The lockdowns drove a contraction of around 6.2 percent...
Persistent link: https://www.econbiz.de/10012517676
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Optimal Inflation Targeting under Alternative Fiscal Regimes
Benigno, Pierpaolo - 2006
Standard discussions of flexible inflation targeting as an optimal monetary policy abstract completely from the … consequences of monetary policy for the government budget. But at least some of the countries now adopting inflation targeting have … substantial difficulty in controlling fiscal imbalances, so that the additional strains resulting from strict control of inflation …
Persistent link: https://www.econbiz.de/10012466536
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Inflation Targeting and the Liquidity Trap
McCallum, Bennett T. - 2001
This paper considers whether 'liquidity trap' issues have important bearing on the desirability of inflation targeting … 'indeterminacy' dangers are created by variants of inflation targeting, the latter when forecasts of future inflation enter the … variable can still be the inflation rate …
Persistent link: https://www.econbiz.de/10012470499