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Macroeconomic Policy and Economic Performance
de Lima, Pedro - 2003
This paper analyses the major changes in both monetary and fiscal policy that have taken place over the past two decades and, within the limits of the existing empirical research, evaluates the overall costs and benefits for the OECD economies. The general findings for monetary policy are that,...
Persistent link: https://www.econbiz.de/10012444501
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Factors Driving Risk Premia
Sløk, Torsten - 2004
fundamentals coupled with OECD-wide abundant liquidity. Regarding the latter two factors, principal component analysis was used … analysis finds that both economic fundamentals and liquidity have played a statistically significant role in driving the common … factor. It also finds that liquidity (measured as the GDP weighted average of M3 of the three major economies less its trend …
Persistent link: https://www.econbiz.de/10012445763
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Government size, composition, volatility and economic growth
Afonso, António; Furceri, Davide - In: European journal of political economy 26 (2010) 4, pp. 517-532
Persistent link: https://www.econbiz.de/10008933778
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Fiscal Policy Reaction to the Cycle in the OECD : Pro- or Counter-cyclical?
Égert, Balázs - 2010
This paper analyses the reaction of fiscal policy to the cycle in OECD countries. The results suggest that while overall government balances were counter-cyclical in the past and more so in economic downturns than in upswings, discretionary fiscal policy was neutral on average. However,...
Persistent link: https://www.econbiz.de/10012445698
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Monetary Policy at Price Stability : A Review of Some Issues
Edey, Malcolm; Funke, Norbert; Kennedy, Mike; Palerm, Angel - 1995
In this paper policy issues related to the operation of monetary policy in a low inflation environment are discussed. The successful reduction of inflation rates in a number of OECD countries in recent years arguably represents a regime shift that is likely to affect the operation of monetary...
Persistent link: https://www.econbiz.de/10012445878