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International crises and policy responses in the Southern cone

Borensztein, Eduardo; Castilleja, Liliana; Hernaiz, Daniel - 2012

This document analyzes the patterns of fiscal and monetary policy in five economies of the Latin American Southern Cone (Argentina, Brazil, Chile, Paraguay and Uruguay) during four episodes of international crises: 1994, 1997-1999, 2001 and 2008. In contrast with earlier episodes when most...

Persistent link: https://www.econbiz.de/10011303276

A cycle-adjusted fiscal rule for sustainable and more equitable growth in Argentina

Zúñiga, Jimena; Capello, Marcelo; Butler, Inés; … - 2013

This paper seeks to identify the most promising fiscal strategy to boost long-term economic growth in Argentina and quantify its effects. To this end, the authors updated a growth-diagnostics study for Argentina and corroborated that low appropriability of social returns and insufficient public...

Persistent link: https://www.econbiz.de/10011303821

A framework for assessing policy space in ASEAN+3 economies and the combat against COVID-19 pandemic

Chaipat Poonpatpibul; Hong, Seung Hyun; Choi, Jinho; … - 2020

Persistent link: https://www.econbiz.de/10012819595

Choosing the European fiscal rule

Buss, Ginters; Grüning, Patrick; Tkačevs, Olȩgs - 2021

Persistent link: https://www.econbiz.de/10012792380

Fiscal DSGE model for Latvia

Buss, Ginters; Grüning, Patrick - 2020

Persistent link: https://www.econbiz.de/10012493330

Seigniorage and sovereign default : the response of emerging markets to COVID-19

Espino, Emilio; Kozlowski, Julian; Martin, Fernando M.; … - 2020

Persistent link: https://www.econbiz.de/10012306883

Global growth on life support? : the contributions of fiscal and monetary policy since the global financial crisis

Baumann, Ursel; Lodge, David; Miescu, Mirela S. - 2019

with a hierarchical structure we capture the variability of GDP response to policy shocks both between and within the … more homogeneous effects on GDP. We then quantify the policy contribution on GDP growth in the last decade by means of a … structural counterfactual analysis based on conditional forecasts. We find that global GDP growth benefited from substantial …

Persistent link: https://www.econbiz.de/10011987115

Expectations-driven liquidity traps : implications for monetary and fiscal policy

Nakata, Taisuke; Schmidt, Sebastian - 2019

We study optimal monetary and fiscal policy in a New Keynesian model where occasional declines in agents' confidence can give rise to persistent liquidity trap episodes. Unlike in the case of fundamental-driven liquidity traps, there is no straightforward recipe for mitigating the welfare costs...

Persistent link: https://www.econbiz.de/10012037377

Optimal fiscal policy and sovereign debt crises

Niemann, Stefan; Pichler, Paul - 2017

Persistent link: https://www.econbiz.de/10011763302

Managing the sovereign-bank nexus

Dell'Ariccia, Giovanni; Ferreira, Caio; Jenkinson, Nigel; … - 2018

This paper identifies the various channels that give rise to a "sovereign-bank nexus" whereby the financial health of banks and sovereigns is intertwined. We find that banks and sovereigns are linked by three interacting channels: banks hold large amounts of sovereign debt; banks are protected...

Persistent link: https://www.econbiz.de/10011901498