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Fiscal sustainability in a new Keynesian model : additional appendix (not for publication)

Leith, Campbell B.; Wren-Lewis, Simon - 2012

Persistent link: https://www.econbiz.de/10009722690

Angeloni, Ignazio; Faia, Ester; Winkler, Roland - 2014 - First draft: August 2010. This draft: April 2014

We study alternative scenarios for exiting the post-crisis fiscal and monetary accommodation using a macromodel where banks choose their capital structure and are subject to runs. Under a Taylor rule, the post-crisis interest rate hits the zero lower bound (ZLB) and remains there for several...

Persistent link: https://www.econbiz.de/10010354007

Secular stagnation : insights from a new Keynesian model with hysteresis effects

Aarle, Bas van - 2016

To analyse the most important aspects of the Secular Stagnation hypothesis, this paper considers the effects of hysteresis in potential output in a New-Keynesian model that is extended with endogenous potential output. To do so, a number of simulations of relevant scenarios is undertaken. It is...

Persistent link: https://www.econbiz.de/10011444072

Transatlantic monetary and fiscal policy interaction

Aarle, Bas van; Garretsen, Harry; Huart, Florence - 2003

This paper studies the design, effects and interactions of monetary and fiscal policies in the euro-area and between the euro-area and the non euro-area. To do so, a stylized three-country model of monetary and fiscal policy rules is constructed. It is analyzed how monetary and fiscal rules...

Persistent link: https://www.econbiz.de/10011509484

Dealing with a liquidity trap when government debt matters : optimal time-consistent monetary and fiscal policy

Burgert, Matthias; Schmidt, Sebastian - 2013

a liquidity trap? To provide an answer, we employ a small stochastic New Keynesian model with a zero bound on nominal …-term nominal interest rate and debt-financed government spending. The optimal policy response to a liquidity trap critically … expectations that helps to dampen the fall in output and inflation at the outset of the liquidity trap. …

Persistent link: https://www.econbiz.de/10010400894

Liquidity traps and expectation dynamics : fiscal stimulus or fiscal austerity?

Benhabib, Jess; Evans, George W.; Honkapohja, Seppo - 2014

Persistent link: https://www.econbiz.de/10010402622

Fiscal and monetary policies in complex evolving economies

Dosi, Giovanni; Fagiolo, Giorgio; Napoletano, Mauro; … - 2014

In this paper we explore the effects of alternative combinations of fiscal and monetary policies under different income distribution regimes. In particular, we aim at evaluating fiscal rules in economies subject to banking crises and deep recessions. We do so using an agent-based model populated...

Persistent link: https://www.econbiz.de/10010403730

Monetary and fiscal policy in times of crises : a new Keynesian perspective in continuous time

Hayo, Bernd; Niehof, Britta - 2014 - This version: October 27, 2014

To analyse the interdependence between monetary and fiscal policy during a financial crisis, we develop an open-economy DSGE model with monetary and fiscal policy as well as financial markets in a continuous-time framework based on stochastic differential equations. Monetary policy is modelled...

Persistent link: https://www.econbiz.de/10010419528

Monetary and fiscal policy dynamics in an asymmetric monetary union

Clausen, Volker; Wohltmann, Hans-Werner - 2002 - Second Revision

This paper investigates the dynamic effects of monetary and fiscal policy in a monetary union, which is characterized by asymmetric interest rate transmission. This asymmetry gives rise to intertemporal reversals in the relative effectiveness of policy on member country outputs. The direction...

Persistent link: https://www.econbiz.de/10010494186

Reconsidering macroeconomic policy prescriptions with meta-analysis

Gechert, Sebastian - 2022

This paper investigates recent developments in meta-analysis, the tool to quantitatively synthesize research in a certain body of literature. After providing a brief overview on how to do a meta-analysis and discussing recent methodological advancements in the field, I review applied...

Persistent link: https://www.econbiz.de/10012818057