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Warum die Volkswirtschaften der Eurozone den USA und Großbritannien seit der Finanzkrise hinterherhinken: Zur Rolle von Unterschieden in der Geld- und Fiskalpolitik
Heimberger, Philipp - 2016
Wirtschaftsräume wird in zwei Dimensionen analysiert; zum einen anhand eines Überblicks zur Geldpolitik der EZB nach dem Ausbruch der … Wachstum und Beschäftigung, was die Eurozonenwirtschaft im Zusammenspiel mit der über weite Strecken zögerlichen Geldpolitik … der EZB in eine Spirale aus hoher Arbeitslosigkeit, niedriger Inflation und steigender realer Schuldenlast trieb. Die USA …
Persistent link: https://www.econbiz.de/10012100198
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Monetary and fiscal policy in monetary union under the zero lower bound constraint
Flotho, Stefanie - 2012
This paper explicitly models strategic interaction between two independent national fiscal authorities and a single central bank in a simple New Keynesian model of a monetary union. Monetary policy is constrained by the zero lower bound on nominal interest rates. Coordination of fiscal policies...
Persistent link: https://www.econbiz.de/10010325141
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Monetary consequences of alternative fiscal policy rules
Railavo, Jukka - 2004
optimise.Under discretionary monetary policy the size of the inflation bias depends on the fiscal policy regime.Using the … with the alternative fiscal policy rules, and inflation and output persistence reflects the economic data.With the deficit …
Persistent link: https://www.econbiz.de/10012147919
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Myths and maths: Macroeconomic effects of fiscal adjustments in Hungary
Horváth, Ágnes; Jakab, Zoltán M.; Kiss, Gábor P.; … - 2006
In this paper we investigate the possible effects of fiscal tightening in Hungary from two perspectives. First, simulations in an estimated neo-Keynesian model are used to characterise the effects of different scenarios for fiscal consolidations. We show that the composition of fiscal shocks is...
Persistent link: https://www.econbiz.de/10010322394
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Forecasting and policy making
Wieland, Volker; Wolters, Maik Hendrik - 2012
Persistent link: https://www.econbiz.de/10010368564
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Macroeconomic and financial policies for climate change mitigation: A review of the literature
Krogstrup, Signe; Oman, William - 2019
Climate change is one of the greatest challenges of this century. Mitigation requires a large-scale transition to a low-carbon economy. This paper provides an overview of the rapidly growing literature on the role of macroeconomic and financial policy tools in enabling this transition. The...
Persistent link: https://www.econbiz.de/10012388879
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Bounds on price-setting
Kocherlakota, Narayana Rao - In: Theoretical Economics 16 (2021) 3, pp. 979-1015
I study a class of macroeconomic models in which all firms can costlessly choose any price at each date from an interval (indexed to last period's price level) that includes a positive lower bound. I prove three results that are valid for any such half-closed interval (regardless of how near...
Persistent link: https://www.econbiz.de/10013189085
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The central bank strikes back! Credibility of monetary policy under fiscal influence
Camous, Antoine; Matveev, Dmitry - 2022
How should independent central banks react if pressured by fiscal policymakers? We study an environment with strategic monetary-fiscal interactions where the central bank has a limited degree of commitment to follow policies over time and the fiscal authority has none. We contrast the...
Persistent link: https://www.econbiz.de/10013272214
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Did the crisis change it all? Evidence from monetary and fiscal policy
Mitreska, Ana; Vojnovic, Maja Kadievska; Georgievska, Ljupka - 2010
have constrained monetary authorities to respond to inflation and output during crisis, while there is mixed evidence for …
Persistent link: https://www.econbiz.de/10011785345
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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
Not since the Great Depression have monetary policy matters and institutions weighed so heavily in commercial, financial, and political arenas. Apart from the eurozone crisis and global monetary policy issues, for nearly two years all else has counted for little more than noise on a relative...
Persistent link: https://www.econbiz.de/10010286538