Narrow search
Showing 1 - 10 of 233
Cover Image
The fiscal-monetary nexus in Germany
Ehnts, Dirk H. - 2020
the Eurozone, Germany's national central bank is not allowed to buy sovereign securities on its own account. The German … the Eurozone and that it makes sense to consolidate central bank and government(s) even when a government is not issuing a …
Persistent link: https://www.econbiz.de/10012203542
Cover Image
When good intentions pave the road to hell: Monetization fears and Europe's narrowing options
Terzi, Andrea - 2014
With the creation of the Economic and Monetary Union and the euro, the national government debt of eurozone member … monetization" rule, the one embraced by the eurozone was special, as it also prevented monetization on the secondary market for … debt. This made all eurozone public debt defaultable - at least until the European Central Bank (ECB) announced the …
Persistent link: https://www.econbiz.de/10010513027
Cover Image
Finance-dominated capitalism, re-distribution and the financial and economic crises: A European perspective
Hein, Eckhard - 2012
In this paper the euro crisis is viewed as the most recent episode of the crisis of financedominated capitalism. Therefore, two major features of finance-dominated capitalism, the increasing inequality of income distribution and the rising imbalances of current accounts, are analysed for a set...
Persistent link: https://www.econbiz.de/10010309812
Cover Image
ECB worries/European woes: The economic consequences of parochial policy
Barbera, Robert J.; Holtham, Gerald - 2012
Financial market crises with the threat of a subsequent debt-deflation depression have occurred with increasing regularity in the United States from 1980 through the present. Almost reflexively, when confronted with such circumstances, US institutions and the policymakers that run them have...
Persistent link: https://www.econbiz.de/10010318632
Cover Image
The European Central Bank and why things are the way they are: A historic monetary policy pivot point and moment of (relative) clarity
Dubois, Robert - 2012
, financial, and political arenas. Apart from the eurozone crisis and global monetary policy issues, for nearly two years all else … divergence and political and social discord across member-states. Given the scale and scope of the eurozone crisis, policy and …
Persistent link: https://www.econbiz.de/10010286538
Cover Image
On policy interactions among nations: When do cooperation and commitment matter?
Kempf, Hubert; von Thadden, Leopold - 2008
This paper offers a framework to study commitment and cooperation issues in games with multiple policymakers. To reconcile some puzzles in the recent literature on the nature of policy interactions among nations, we prove that games characterized by different commitment and cooperation schemes...
Persistent link: https://www.econbiz.de/10010292265
Cover Image
Optimal simple and implementable monetary and fiscal rules
Schmitt-Grohé, Stephanie; Uribe, Martín - 2007
This paper computes welfare-maximizing monetary and fiscal policy rules in a real business cycle model augmented with sticky prices, a demand for money, taxation, and stochastic government consumption. We consider simple feedback rules whereby the nominal interest rate is set as a function of...
Persistent link: https://www.econbiz.de/10010292297
Cover Image
Issues in central bank finance and independence
Stella, Peter; Lonnberg, Åke - 2008
Conventional economic policy models focus only on selected elements of the central bank balance sheet, in particular monetary liabilities and sometimes foreign reserves. The canonical model of an independent central bank assumes that it chooses money (or an interest rate) unconstrained by a need...
Persistent link: https://www.econbiz.de/10010292319
Cover Image
Optimal fiscal feedback on debt in an economy with nominal rigidities
Kirsanova, Tatiana; Wren-Lewis, Simon - 2007
We examine the impact of different degrees of fiscal feedback on debt in an economy with nominal rigidities where monetary policy is optimal. We look at the extent to which different degrees of fiscal feedback enhance or detract from the ability of the monetary authorities to stabilize output...
Persistent link: https://www.econbiz.de/10010292363
Cover Image
Investment spending, equilibrium indeterminacy, and the interactions of monetary and fiscal policy
Lubik, Thomas A. - 2003
This paper investigates determinacy of equilibrium in a canonical New Keynesian model under different monetary and fiscal policy rules. It is shown that a simple monetary rule that responds aggressively to inflation is a necessary condition for equilibrium determinacy, when fiscal policy is...
Persistent link: https://www.econbiz.de/10010293451