Similar Search Results

The defining moment : the Great Depression and the American economy in the twentieth century

Bordo, Michael D. (ed.); Goldin, Claudia (ed.); … - 1998

Persistent link: https://www.econbiz.de/10013480824

The Monetary and Fiscal History of Brazil, 1960-2016

Ayres, Joao - 2019

Brazil has had a long period of high inflation. It peaked around 100 percent per year in 1964, decreased until the first oil shock (1973), but accelerated again afterward, reaching levels above 100 percent on average between 1980 and 1994. This last period coincided with severe balance of...

Persistent link: https://www.econbiz.de/10012479377

The Monetary and Fiscal History of Bolivia, 1960–2017

Kehoe, Timothy J. - 2019

After the economic reforms that followed the National Revolution of the 1950s, Bolivia seemed positioned for sustained growth. Indeed, it achieved unprecedented growth from 1960 to 1977. The rapid accumulation of debt due to persistent deficits and a fixed exchange rate policy during the 1970s...

Persistent link: https://www.econbiz.de/10012479478

When it Rains, it Pours : Procyclical Capital Flows and Macroeconomic Policies

Kaminsky, Graciela L. - 2004

Based on a sample of 104 countries, we document four key stylized facts regarding the interaction between capital flows, fiscal policy, and monetary policy. First, net capital inflows are procyclical (i.e., external borrowing increases in good times and falls in bad times) in most OECD and...

Persistent link: https://www.econbiz.de/10012467910

What Ends Recessions?

Romer, Christina D. - 1994

This paper analyzes the contributions of monetary and fiscal policy to postwar economic recoveries. We find that the … account for nearly all of the above-average growth that occurs early in recoveries. Our estimates also indicate that on … several occasions expansionary policies have contributed substantially to above-normal growth outside of recoveries. Finally …

Persistent link: https://www.econbiz.de/10012474154

Inequality, Business Cycles, and Monetary-Fiscal Policy

Bhandari, Anmol - 2018

We study optimal monetary and fiscal policy in a model with heterogeneous agents, incomplete markets, and nominal rigidities. We develop numerical techniques to approximate Ramsey plans and apply them to a calibrated economy to compute optimal responses of nominal interest rates and labor tax...

Persistent link: https://www.econbiz.de/10012453010

Macroeconomic Shocks and Their Propagation

Ramey, Valerie A. - 2016

This chapter reviews and synthesizes our current understanding of the shocks that drive economic fluctuations. The chapter begins with an illustration of the problem of identifying macroeconomic shocks, followed by an overview of the many recent innovations for identifying shocks. It then...

Persistent link: https://www.econbiz.de/10012456695

Escaping the Great Recession

Bianchi, Francesco - 2014

We show that policy uncertainty about how the rising public debt will be stabilized accounts for the lack of deflation in the US economy at the zero lower bound. We first estimate a Markov-switching VAR to highlight that a zero-lower-bound regime captures most of the comovements during the Great...

Persistent link: https://www.econbiz.de/10012458428

Monetary/Fiscal Policy Mix and Agents' Beliefs

Bianchi, Francesco - 2014

We reinterpret post World War II US economic history using an estimated microfounded model that allows for changes in the monetary/fiscal policy mix. We find that the fiscal authority was the leading authority in the '60s and the '70s. The appointment of Volcker marked a change in the conduct of...

Persistent link: https://www.econbiz.de/10012458470

Navigating by Falling Stars : Monetary Policy with Fiscally Driven Natural Rates

Campos, Rodolfo G.; Fernández-Villaverde, Jesús; … - National Bureau of Economic Research - 2024

We study a new type of monetary-fiscal interaction in a heterogeneous-agent New Keynesian model with a fiscal block. Due to household heterogeneity, the stock of public debt affects the natural interest rate, forcing the central bank to adapt its monetary policy rule to the fiscal stance to...

Persistent link: https://www.econbiz.de/10014512073

1
2
3
4
5
6
7
8
9
10
Next
Last