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Issues in the Coordination of Monetary and Fiscal Policy
Blinder, Alan S. - 1982
This paper examines issues in the current debate over coordination between fiscal and monetary policies. Section I1 … uses the traditional targets-instruments approach to assess the potential gains from greater coordination. Since greater … coordination is often equated with looser money and tighter fiscal policy, two econometric models of the economy are used to …
Persistent link: https://www.econbiz.de/10012478123
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Stabilizing Expectations under Monetary and Fiscal Policy Coordination
Eusepi, Stefano - 2008
need for policy coordination: the specific choice of monetary policy limits the set of fiscal policies consistent with …
Persistent link: https://www.econbiz.de/10012464256
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Coordination of Monetary and Fiscal Policies
International Monetary Fund - 1998
effective coordination of monetary and fiscal policy if overall economic performance is to be optimized and maintained in the …
Persistent link: https://www.econbiz.de/10014401884
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Financial Markets where Traders Neglect the Informational Content of Prices
Eyster, Erik - 2015
We present a model of a financial market where some traders are "cursed" when choosing how much to invest in a risky asset, failing to fully take into account what prices convey about others' private information. Cursed traders put more weight on their private signals than rational traders. But...
Persistent link: https://www.econbiz.de/10012457443
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Trading on Sunspots
Jovanovic, Boyan - 2014
disasters. When the probability of a disaster is high enough, the coordination game becomes like a prisoner's dilemma situation …
Persistent link: https://www.econbiz.de/10012457853
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American Disclosure Options
Back, Kerry E.; Carlin, Bruce Ian; Kazempour, Seyed Mohammad - National Bureau of Economic Research - 2023
We study strategic disclosure timing by correlated firms in the presence of risk-averse investors. Firms delay disclosures in the hope that positively correlated firms will announce especially good news and lift their own price. Risk premia rise before disclosures, drop when disclosures occur,...
Persistent link: https://www.econbiz.de/10014447256
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NBER International Seminar on Macroeconomics 2010
Clarida, Richard H. (ed.); Giavazzi, Francesco (contributor) - ISOm <33, 2010, Amsterdam> - 2011
Persistent link: https://www.econbiz.de/10009661611
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NBER International Seminar on Macroeconomics 2006
Reichlin, Lucrezia (contributor);  … - National Bureau of Economic Research - 2008
Persistent link: https://www.econbiz.de/10003655859
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Robust-H-infinity Forecasting and Asset Pricing Anomalies
Tornell, Aaron - 2000
We present an alternative expectation formation mechanism that helps rationalize well known asset pricing anomalies, such as the predictability of excess returns, excess volatility, and the equity-premium puzzle. As with rational expectations (RE), the expectation formation mechanism we consider...
Persistent link: https://www.econbiz.de/10012470997
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Forecasting Crashes : Trading Volume, Past Returns and Conditional Skewness in Stock Prices
Chen, Joseph - 2000
This paper is an investigation into the determinants of asymmetries in stock returns. We develop a series of cross-sectional regression specifications which attempt to forecast skewness in the daily returns of individual stocks. Negative skewness is most pronounced in stocks that have...
Persistent link: https://www.econbiz.de/10012471074