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Policy mix and debt sustainability : evidence from fiscal policy rules

Claeys, Peter (contributor) - 2005

This paper characterises rules-based fiscal policy setting. Basically, we translate a standard monetary policy rule into a simple fiscal policy rule. We then infer on fiscal policymakers' reaction coefficients by testing the rule with GMM. Interaction is also tested directly by the inclusion of...

Persistent link: https://www.econbiz.de/10002578199

Secular stagnation : insights from a new Keynesian model with hysteresis effects

Aarle, Bas van - 2016

To analyse the most important aspects of the Secular Stagnation hypothesis, this paper considers the effects of hysteresis in potential output in a New-Keynesian model that is extended with endogenous potential output. To do so, a number of simulations of relevant scenarios is undertaken. It is...

Persistent link: https://www.econbiz.de/10011444072

Liquidity shortages and monetary policy

Cao, Jin (contributor); Illing, Gerhard (contributor) - 2008

Persistent link: https://www.econbiz.de/10003635213

Endogenous systemic liquidity risk

Cao, Jin; Illing, Gerhard - 2009

Traditionally, aggregate liquidity shocks are modelled as exogenous events. Extending our previous work (Cao & Illing …, 2008), this paper analyses the adequate policy response to endogenous systemic liquidity risk. We analyse the feedback … between lender of last resort policy and incentives of private banks, determining the aggregate amount of liquidity available …

Persistent link: https://www.econbiz.de/10003833348

Monetary policy at the zero lower bound : information in the Federal Reserve's balance sheet

Golinski, Adam - In: European economic review : EER 131 (2021), pp. 1-20

Persistent link: https://www.econbiz.de/10012692469

Negative interest rates, excess liquidity and retail deposits : banks’ reaction to unconventional monetary policy in the euro area

Demiralp, Selva; Eisenschmidt, Jens; Vlassopoulos, Thomas - In: European economic review : EER 136 (2021), pp. 1-29

Persistent link: https://www.econbiz.de/10012696751

Monetary transmission mechanism with firm turnover

Uusküla, Lenno - In: Journal of macroeconomics 50 (2016), pp. 1-18

Persistent link: https://www.econbiz.de/10011707859

Strategic interactions between fiscal and monetary authorities in a multi-country new-Keynesian model of a monetary union

Michalak, Tomasz; Engwerda, Jacob Christiaan; Plasmans, … - 2009

In this paper we consider a number of key issues related to the policy coordination in a monetary union that has been recently discussed in the literature. To this end we propose a multi-country New-Keynesian model of a monetary union cast in the framework of linear quadratic differential games....

Persistent link: https://www.econbiz.de/10003807838

The effects of government spending shocks on consumption under optimal stabilization

Horvath, Michal - In: European economic review : EER 53 (2009) 7, pp. 815-829

Persistent link: https://www.econbiz.de/10003891087

Monetary union, even higher integration, or back to national currencies?

Oikonomidēs, Geōrgios; Philippopulos, Apostolēs; … - 2016

This paper quantifies the welfare differences among a monetary union, flexible exchange rates (economic disintegration) and a monetary plus fiscal transfer union (higher economic integration). The vehicle of analysis is a medium-scale New Keynesian DSGE model consisting of two heterogeneous...

Persistent link: https://www.econbiz.de/10011430977

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