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The dire effects of the lack of monetary and fiscal coordination
Bianchi, Francesco; Melosi, Leonardo - 2017
adamant about preventing a rise in inflation? The large fiscal imbalance brings about inflationary pressures, triggering a … spiral of higher inflation, output contraction, and further debt accumulation. A coordinated commitment to inflate away the …
Persistent link: https://www.econbiz.de/10011774982
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Escaping the Great Recession
Bianchi, Francesco - 2014
announcements by the fiscal and monetary authorities can lead to high inflation and large output losses. The policy trade-off can be …
Persistent link: https://www.econbiz.de/10013040335
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Escaping the Great Recession
Bianchi, Francesco; Melosi, Leonardo - 2014 - This draft: January 2014
announcements by the fiscal and monetary authorities can lead to high inflation and large output losses. The policy trade-off can be …
Persistent link: https://www.econbiz.de/10010439777
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Escaping the Great Recession
Bianchi, Francesco; Melosi, Leonardo - 2016
We show that policy uncertainty about how the rising public debt will be stabilized accounts for the lack of deflation in the US economy at the zero lower bound. We first estimate a Markov-switching VAR to highlight that a zero-lower-bound regime captures most of the comovements during the Great...
Persistent link: https://www.econbiz.de/10011560569
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Escaping the Great Recession
Bianchi, Francesco - 2015
High uncertainty is an inherent implication of the zero lower bound, while deflation is not because of inflationary pressure due to uncertainty about how debt will be stabilized. We show that policy uncertainty empirically accounts for the absence of deflation in the US economy. Announcing...
Persistent link: https://www.econbiz.de/10013035011
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Escaping the Great Recession
Bianchi, Francesco - 2016
We show that policy uncertainty about how the rising public debt will be stabilized accounts for the lack of deflation in the US economy at the zero lower bound. We first estimate a Markov-switching VAR to highlight that a zero-lower-bound regime captures most of the comovements during the Great...
Persistent link: https://www.econbiz.de/10012979122
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The Dire Effects of the Lack of Monetary and Fiscal Coordination
Bianchi, Francesco - 2017
adamant about preventing a rise in inflation? The large fiscal imbalance brings about inflationary pressures, triggering a … spiral of higher inflation, output contraction, and further debt accumulation. A coordinated commitment to inflate away the …
Persistent link: https://www.econbiz.de/10012944030
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The tale of two great crises
Fratianni, Michele; Giri, Federico - 2015
The great depression of 1929 and the great financial crisis of 2008 have been the two big events of the last 75 years. Not only have they produced serious economic consequences but they also changed our view of economics and policymaking. The aim of this work is to compare these two great crises...
Persistent link: https://www.econbiz.de/10011412358
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Does unconventional monetary and fiscal policy contribute to the COVID inflation surge in the US?
Wu, Jing Cynthia; Xie, Yinxi; Zhang, Ji - 2024 - Last updated: October 24, 2024
.S. contribute to the 2021-2023 inflation surge through the lens of several different empirical methodologies-event studies, vector … through a disinflationary channel in the Phillips curve while monetary and fiscal stimuli put positive pressure on inflation …
Persistent link: https://www.econbiz.de/10015097290
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Has Inflation Targeting Strategy Made A Difference in Ghanaian Macroeconomic Management? Analysis of Business Cycle Fluctuations and Econometric Estimates
Akosah, Nana Kwame; Paul Alagidede, Imhotep; Schaling, Eric - 2020
For over a decade of practicing inflation targeting (IT) strategy, inflation has remained high and persistent while … management in Ghana by reducing average inflation rate, boosting average growth rate and dampening the cyclical oscillations in … both output and inflation. We however find a slower pace of disinflation in Ghana, underpinning the high inflation inertia …
Persistent link: https://www.econbiz.de/10014093032