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The effectiveness of government debt for demand management : sensitivity to monetary policy rules
Ascari, Guido; Rankin, Neil - In: Journal of economic dynamics & control 37 (2013) 8, pp. 1544-1566
Persistent link: https://www.econbiz.de/10009775096
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The Effectiveness of Government Debt for Demand Management: Sensitivity to Monetary Policy Rules
Ascari, Guido; Rankin, Neil - 2010
We construct a staggered-price dynamic general equilibrium model with overlapping generations based on uncertain lifetimes. Price stickiness plus lack of Ricardian Equivalence could be expected to make an increase in government debt, with associated changes in lumpsum taxation, effective in...
Persistent link: https://www.econbiz.de/10010343886
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The effectiveness of government debt for demand management : sensitivity to monetary policy rules
Ascari, Guido; Rankin, Neil - 2010
Persistent link: https://www.econbiz.de/10008810710
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The Debt Multiplier
Albonico, Alice - 2020
This paper studies the debt multiplier, that is the effects of a temporary and pure change in government debt on economic activity. Contrary to an infinitely-lived representative agent model, in an overlapping generations (OLG) framework output increases even after a temporary increase in debt...
Persistent link: https://www.econbiz.de/10012850589
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The public debt multiplier
Albonico, Alice; Ascari, Guido; Gobbi, Alessandro - In: Journal of economic dynamics & control 132 (2021), pp. 1-22
Persistent link: https://www.econbiz.de/10013259071
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Monetary policy in the Euro Area : active or passive?
Albonico, Alice; Ascari, Guido; Haque, Qazi - 2024
Persistent link: https://www.econbiz.de/10014538819
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Trend Inflation, Taylor Principle and Indeterminacy
Ascari, Guido; Ropele, Tiziano - 2007
We show that low trend inflation strongly affects the dynamics of a standard Neo-Keynesian model where monetary policy … is described by a standard Taylor rule. Moreover, trend inflation enlarges the indeterminacy region in the parameter … cannot disregard average inflation in both theoretical and empirical analysis. …
Persistent link: https://www.econbiz.de/10010260575
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Regional patterns of inflation persistence in Italy
Ascari, Guido; Vaona, Andrea - 2007
Regional patterns of inflation persistence have received attention only at a very coarse level of territorial … disaggregation (NUTS3). Our results show that economically backward regions display greater inflation persistence. Moreover, we show …
Persistent link: https://www.econbiz.de/10010326100
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Trend inflation, Taylor principle and indeterminacy
Ascari, Guido; Ropele, Tiziano - 2005
In this paper, we show that low trend inflation strongly affects the dynamics of a standard Neo-keynesian model where … monetary policy is described by a standard Taylor rule. In particular, we show that trend inflation: (i) enlarges the … average inflation in both theoretical and empirical analysis. …
Persistent link: https://www.econbiz.de/10010326116
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The optimal stability-oriented monetary policy: Optimal monetary policy under low trend inflation
Ascari, Guido; Ropele, Tiziano - 2004
trend inflation. We present a simple framework that provides straightforward analytical results directly comparable with the … standard case. Optimal monetary policy is strongly influenced by trend inflation and becomes less effective in controlling … inflation as trend inflation increases. Moreover: (i) under discretion, optimal monetary policy may not be implementable (i …
Persistent link: https://www.econbiz.de/10010326131