considering an economy in steady state where all agents hold Barro expectations: they believe that government debt must …

The recent financial crises pointed out the central role of public and private debt in modern economies. However, even … if debt is a recurring topic in discussions about the current economic situation, economic modelling does not take into … account debt as one of the crucial determinants of economic dynamics. Our contribution, in this paper, is to investigate the …

-monetary sovereign debt. Three conditions must be satisfied for helicopter money always to boost aggregate demand. First, there must be …

This paper offers a reappraisal of the inflation-unemployment tradeoff, based on ?frictional growth,? describing the … expectations, there is a long-run inflation-unemployment tradeoff. Our empirical analysis suggests that this Phillips curve may be … reasonably flat. We show that the persistence of inflation and unemployment, in response to monetary policy shocks, is related to …

This paper studies the effect of exchange rate pass-through on inflation in Tunisia over the period 2001-2009. The … authors' objective is to track inflation regimes for the Tunisian economy and to forecast its determinants. Using a Markov …-switching approach, the authors identified two main regimes for inflation in Tunisia over this period: a low and stable inflation regime …

appropriate principles of mone¬tary policy, rules for financial soundness and agreements on the role of prudent regulation. The … paper discusses the lessons from the subprime crisis, failures of regulation, crisis man¬agement in the US and in the EU and …

We find that real interest rates paid on government debt depend significantly upon current and expected future levels … of debt, in Europe as in the US. But this result only emerges when we condition on foreign interest rates, illustrating … financial international integration. The previously strong effect of debt on US interest rates has been diluted by the addition …

well as the concept of half- and full-debt-cycles are used to argue that the German current account deßcit can easily move …

), (3) the inflation tax (the reduction in the real value of the stock of base money due to inflation and (4) the operating … inflation target, and the importance of cooperation and coordination between the Treasury and the Central Bank when faced with …