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Fiscal Theory of Price Level
Daly, Hounaida; Smida, Mounir - Volkswirtschaftliche Fakultät, … - 2014
Lack of coordination between the monetary and fiscal authorities will result in inferior overall economic performance. This paper studies the interactions between monetary and fiscal policies and its effect on the economic performance by using al cointegration tests in the case of Euro Area....
Persistent link: https://www.econbiz.de/10011114139
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Sovereign Risk and Belief-Driven Fluctuations in the Euro Area
Corsetti, Giancarlo; Kuester, Keith; Meier, André; … - International Monetary Fund (IMF) - 2013
Sovereign risk premia in several euro area countries have risen markedly since 2008, driving up credit spreads in the private sector as well. We propose a New Keynesian model of a two-region monetary union that accounts for this “sovereign risk channel.” The model is calibrated to the euro...
Persistent link: https://www.econbiz.de/10010790357
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Finanz- und Geldpolitik - Vernichten sie Arbeitsplätze?
Nerb, Gernot; Langmantel, Erich; Juchems, Alexander - In: Ifo Schnelldienst 47 (1994) 16-17, pp. 20-27
Der Bericht analysiert den Zusammenhang zwischen Finanz- und Geldpolitik im Hinblick auf die Schaffung oder Vernichtung … Arbeitsteilung zwischen Fiskal- und Geldpolitik, der Keynessche Ansatz der Steuerung der Gesamtnachfrage sowie die Geldpolitik mit … restriktiver Geldpolitik und andererseits von moderater Lohnentwicklung und wachsendem BIP ausgegangen wird. Die Auswirkungen der …
Persistent link: https://www.econbiz.de/10005056118
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Le Policy mix de la zone UEMOA garantit-il la Stabilité Intérieure et la Croissance ?
Combey, Adama - Volkswirtschaftliche Fakultät, … - 2014
A policy mix characterized by a monetary policy whose main objective is price stability and fiscal policy under fiscal discipline can he permit to keep prices and production levels of social optimum to sustain economic growth ? In this paper, an index of the policy mix is ​​built for...
Persistent link: https://www.econbiz.de/10011258948
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Fiscal Policy: Its Macroeconomics in Perspective
Tobin, James - Cowles Foundation for Research in Economics, Yale University - 2001
President George W. Bush is preparing a drastic permanent reduction in federal income and estate taxes. He cites as precedents tax cuts by Kennedy-Johnson 1962-64 and Reagan 1981. In those cases, however, the economy was operating well below full employment and needed a "demand-side" stimulus...
Persistent link: https://www.econbiz.de/10005762666
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Long-Run Monetary and Fiscal Policy Trade-Off in an Endogenous Growth Model with Transaction Costs
Villieu, P.; Minea, Alexandru - Verein für Socialpolitik, Ausschuss für … - 2007
In this paper, we study maximizing long-run economic growth trade-off in monetary and fiscal policies in an endogenous growth model with transaction costs. We show that both monetary and fiscal policies are subject to threshold effects, a result that gives account of a number of recent empirical...
Persistent link: https://www.econbiz.de/10005098458
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On policy interactions among nations : when do cooperation and commitment matter ?
Kempf, Hubert; Thadden, Leopold Von - HAL - 2008
This paper offers a framework to study commitment and cooperation issues in games with multiple policymakers. To reconcile some puzzles in the recent literature on the nature of policy interactions among nations, we prove that games characterized by different commitment and cooperation schemes...
Persistent link: https://www.econbiz.de/10010738606
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Financial Repression, Tax Evasion and Long-Run Monetary and Fiscal Policy Trade-Off in an Endogenous Growth Model with Transaction Costs
Villieu, Patrick; Minea, Alexandru - HAL - 2006
In this paper, we study maximizing long-run economic growth trade-off in monetary and fiscal policies in an endogenous growth model with transaction costs. We show that both monetary and fiscal policies are subject to threshold effects, a result that gives account of a number of recent empirical...
Persistent link: https://www.econbiz.de/10008793684
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On policy interactions among nations : when do cooperation and commitment matter ?.
Kempf, Hubert; Thadden, Leopold von - Centre d'Économie de la Sorbonne, Université Paris 1 … - 2008
This paper offers a framework to study commitment and cooperation issues in games with multiple policymakers. To reconcile some puzzles in the recent literature on the nature of policy interactions among nations, we prove that games characterized by different commitment and cooperation schemes...
Persistent link: https://www.econbiz.de/10005510605
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Effets de voisinage et localisation : la ségrégation urbaine est-elle inéluctable ?.
Moizeau, Fabien; Tropeano, Jean-Philippe; Vergnaud, … - Centre d'Économie de la Sorbonne, Université Paris 1 … - 2008
In this paper, we provide a theoretical framework for exploring the consequences of neighborhood informational effects - identified as role models - so as to deduce the urban configuration. With this aim, we have developed an overlapping generations model of community formation. When young, an...
Persistent link: https://www.econbiz.de/10005670859