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Sustainability, Debt Management, and Public Debt Policy in Japan
Doi, Takero - 2006
authority of Japan because it has accumulated the debt outstanding much more than other countries …The purpose of this paper is to analyze sustainability issues of Japan's fiscal policy and then to discuss the debt …
Persistent link: https://www.econbiz.de/10012466308
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Disinflation and Fiscal Reform : A Neoclassical Perspective
Rigobon, Roberto - 2002
During the last two decades, many Latin American countries engaged in disinflation programs based on both exchange rate management and fiscal reforms. However, in most instances, part of the fiscal reform was delayed or not implemented completely, so the fiscal deficit increased and the program...
Persistent link: https://www.econbiz.de/10012470009
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Optimal Monetary and Fiscal Policy in a Currency Union
Gali, Jordi - 2005
We lay out a tractable model for fiscal and monetary policy analysis in a currency union, and analyze its implications for the optimal design of such policies. Monetary policy is conducted by a common central bank, which sets the interest rate for the union as a whole. Fiscal policy is...
Persistent link: https://www.econbiz.de/10012466856
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Advances in Monetary Policy and Macroeconomics
Arestis, Philip (ed.); Zezza, Gennaro (ed.) - 2007
This book deals with the key aspects of developments in monetary economics and macroeconomics, such as the New Consensus Macroeconomics, and further ones such as money, credit and the business cycle. Adding to the analysis are developments that focus on issues for open and spatial macroeconomics
Persistent link: https://www.econbiz.de/10012054267
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Joined at the Hip : Monetary and Fiscal Policy in a Liquidity-Dependent World
Calvo, Guillermo; Velasco, Andrés - National Bureau of Economic Research - 2022
We study the effects of monetary and fiscal policies when both money and government bonds provide liquidity services … the supply of bonds. Those movements in government bond prices affect available liquidity, and therefore aggregate demand … interest rate on money. We conclude that in a liquidity-dependent world, fiscal and monetary policies are joined at the hip …
Persistent link: https://www.econbiz.de/10013172164
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Inflation Dynamics in South Africa : The Role of Thresholds, Exchange Rate Pass-through and Inflation Expectations on Policy Trade-offs
Ndou, Eliphas - 2017
This book offers a comprehensive empirical analysis of South African inflation dynamics, using a variety of techniques including counterfactual analysis. The authors elaborate the roles in inflation of thresholds, nonlinearities and asymmetries introduced by economic conditions such as the size...
Persistent link: https://www.econbiz.de/10012397495
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Economic Policies since the Global Financial Crisis
Arestis, Philip (ed.); Sawyer, Malcolm (ed.) - 2017
This book investigates the changing nature of economic policies following the Global Financial Crisis of 2007-2009. Well-respected, international scholars come together to discuss the level of economic growth following the crisis, concerns over inequality in industrialised countries, and labour...
Persistent link: https://www.econbiz.de/10012397525
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Sequential Bargaining in a New-Keynesian Model with Frictional Unemployment and Staggered Wage Negotiation
de Walque, Gregory - 2009
We consider a model with frictional unemployment and staggered wage bargaining where hours worked are negotiated every period. The workers' bargaining power in the hours negotiation affects both unemployment volatility and inflation persistence. The closer to zero this parameter, (i) the more...
Persistent link: https://www.econbiz.de/10012764242
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Nominal Wage Rigidities in a New Keynesian Model with Frictional Unemployment
Bodart, Vincent; de Walque, Gregory; Pierrard, Olivier; … - 2021
In this paper, we propose a search and matching model with nominal stickiness à la Calvo in the wage bargaining. We analyze the properties of the model, first, in the context of a typical real business cycle model driven by stochastic productivity shocks and second, in a fully specified...
Persistent link: https://www.econbiz.de/10013317263
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Money, Stock Prices and Central Banks : A Cointegrated VAR Analysis
Wiedmann, Marcel - 2011
whether liquidity conditions play an important role in stock market developments. As an innovation, liquidity conditions enter … flows, which represent the share of global liquidity that arrives in the respective country. A second aim is to understand …
Persistent link: https://www.econbiz.de/10014015328