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Fiscal Foresight and Information Flows
Walker, Todd B.; Leeper, Eric M.; Yang, Shu-Chun S. - International Monetary Fund (IMF) - 2012
News - or foresight - about future economic fundamentals can create rational expectations equilibria with non-fundamental representations that pose substantial challenges to econometric efforts to recover the structural shocks to which economic agents react. Using tax policies as a leading...
Persistent link: https://www.econbiz.de/10010790371
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Optimal time-consistent monetary, fiscal and debt maturity policy
Leeper, Eric M.; Leith, Campbell B.; Liu, Ding - In: Journal of monetary economics 117 (2021), pp. 600-617
Persistent link: https://www.econbiz.de/10012603187
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Recovery of 1933
Jacobson, Margaret M.; Leeper, Eric M.; Preston, Bruce - 2023
Persistent link: https://www.econbiz.de/10014284271
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Monetary science, fiscal alchemy.
Leeper, Eric M. - In: Proceedings - Economic Policy Symposium - Jackson Hole (2010), pp. 361-434
Persistent link: https://www.econbiz.de/10010725900
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What Does Monetary Policy Do?
Leeper, Eric M.; Sims, Christopher A.; Zha, Tao - In: Brookings Papers on Economic Activity 27 (1996) 2, pp. 1-78
Persistent link: https://www.econbiz.de/10004970749
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Reducing our ignorance about monetary policy effects
Leeper, Eric M. - In: Economic Review (1995) Jul, pp. 1-38
Business news often gives the impression that the effects of monetary policy on the macroeconomy are well understood and predictable. The author of this article, however, believes that, far from sharing such certainty, policymakers and economists alike have knowledge limited by difficulties in...
Persistent link: https://www.econbiz.de/10005361150
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Assessing simple policy rules: A view from a complete macroeconomic model
Leeper, Eric M.; Zha, Tao - In: Economic Review (2001) Q4, pp. 35-58
estimated equations vary considerably over different periods. The authors also investigate the role of money by incorporating … money (M2) into the NK model; they find that including money substantially alters the model's conclusions about monetary … policy. This result conflicts with the NK theoretical assumption that money is irrelevant. ; Both NK models and VARs have …
Persistent link: https://www.econbiz.de/10005498208
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The dynamics of interest rate and tax rules in a stochastic model
Leeper, Eric M. - Federal Reserve Board (Board of Governors of the … - 1990
policy parameters and policy shocks and obtains conditions under which the usual tests that deficits Granger-cause money … interest rate reverses the usual Granger-causal ordering between deficits and monetization, so that money growth (or inflation … testing whether deficits Granger-cause money creation, may fail to uncover the monetization. …
Persistent link: https://www.econbiz.de/10005498780
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The dynamic impacts of monetary policy: an exercise in tentative identification
Gordon, David B.; Leeper, Eric M. - Federal Reserve Bank of Atlanta - 1992
Persistent link: https://www.econbiz.de/10005514560
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Assessing simple policy rules: a view from a complete macro model
Leeper, Eric M.; Zha, Tao - Federal Reserve Bank of Atlanta - 2000
We explore two popular approaches to empirical analysis of monetary policy: the New Keynesian and the identified vector autoregression approaches. Stylized models of private behavior coupled with simple rules describing policy behavior characterize New Keynesian work. Vector autoregressions...
Persistent link: https://www.econbiz.de/10005514599