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Economic Recovery from the Argentine Great Depression : Institutions, Expectations, and the Change of Macroeconomic Regime

Paolera, Gerardo della - 2000

This work explores how Argentina overcame the Great Depression and asks whether active macroeconomic interventions made …-standard orthodoxy after the final suspension of convertibility in 1929. As elsewhere, fiscal policy in Argentina was conservative, and …

Persistent link: https://www.econbiz.de/10012471138

Sustainability, Debt Management, and Public Debt Policy in Japan

Doi, Takero - 2006

There are two ways to eliminate this distortion toward successful fiscal restoration. One of them is to make the monetary authority more conservative than society in the sense that the price stability weight of monetary authority is higher than that of society. The other way of eliminating the...

Persistent link: https://www.econbiz.de/10012466308

Political Constraints and Sovereign Default

Azzimonti, Marina; Mitra, Nirvana - National Bureau of Economic Research - 2022

constraints. The model is calibrated to Argentina and the results conform to robust empirical evidence. An event study for the …

Persistent link: https://www.econbiz.de/10012814442

International Borrowing and Macroeconomic Performance in Argentina

Dominguez, Kathryn M.E. - 2005

This paper provides an overview of the major economic events in Argentina from the adoption of the convertibility plan … currency board and capital flows, and the inescapable link between fiscal and monetary policy. Argentina inadvertently entered … late 1990s, when Argentina went into recession, it required some sort of stimulus -- either a loosening of monetary policy …

Persistent link: https://www.econbiz.de/10012467330

Thirty Years of Currency Crises in Argentina : External Shocks or Domestic Fragility?

Kaminsky, Graciela - 2009

This paper examines Argentina's currency crises from 1970 to 2001, with particular attention to the role of domestic …

Persistent link: https://www.econbiz.de/10012463171

What about Japan?

Chien, YiLi; Cole, Harold L.; Lustig, Hanno - National Bureau of Economic Research - 2023

As a result of the BoJ's large-scale asset purchases, the consolidated Japanese government borrows mostly at the floating rate from households and invests in longer-duration risky assets to earn an extra 3% of GDP. We quantify the impact of Japan's low-rate policies on its government and...

Persistent link: https://www.econbiz.de/10014436981

Monetary-Fiscal Coordination with International Hegemon

Ding, Xuning; Jiang, Zhengyang - National Bureau of Economic Research - 2024

Monetary and fiscal policies require coordination to achieve desired macroeconomic outcomes. The literature since Leeper (1991) has focused on two regimes: monetary dominance and fiscal dominance. In both cases, one policy is active while the other is passive and accommodates the former. We...

Persistent link: https://www.econbiz.de/10015145074

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

NBER International Seminar on Macroeconomics 2006

Reichlin, Lucrezia (contributor); … - National Bureau of Economic Research - 2008

Persistent link: https://www.econbiz.de/10003655859

Optimal Fiscal and Monetary Policy in a Medium-Scale Macroeconomic Model : Expanded Version

Schmitt-Grohe, Stephanie - 2005

In this paper, we study Ramsey-optimal fiscal and monetary policy in a medium-scale model of the U.S.\ business cycle. The model features a rich array of real and nominal rigidities that have been identified in the recent empirical literature as salient in explaining observed aggregate...

Persistent link: https://www.econbiz.de/10012467262