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impose costs on society rather than benefits. While rational expectations and perfect credibility are generally beneficial with …
Persistent link: https://www.econbiz.de/10009635890
This paper investigates the in inflationary effects of fscal policy in an optimizing general equilibrium monetary model with capital accumulation, exible prices and wealth effects. The model is calibrated to Euro Area quarterly data. Simulation results show that government defcits, high debt...
Persistent link: https://www.econbiz.de/10009635879
In this paper we assess the importance given in capital markets to the credibility of the European fiscal framework. We …
Persistent link: https://www.econbiz.de/10009636526
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