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Heterogeneous expectations and the merit of monetary policy inertia
Gasteiger, Emanuel - In: Expectations in monetary and fiscal policy, (pp. 2-53). 2011
Persistent link: https://www.econbiz.de/10011857498
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Tales of transition paths : policy uncertainty and random walks
Matthes, Christian; Hollmayr, Josef - 2015
Persistent link: https://www.econbiz.de/10011345820
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Determinacy and learning with monetary and fiscal policy
Marzo, Massimiliano - In: Rivista italiana degli economisti : the journal of the … 8 (2003) 1, pp. 121-154
Persistent link: https://www.econbiz.de/10003094580
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Tales of transition paths : policy uncertainty and random walks
Hollmayr, Josef; Matthes, Christian - 2015
What happens when fiscal and/or monetary policy changes systematically? We construct a DSGE model in which agents have to estimate fiscal and monetary policy rules and assess how uncertainty surrounding the conduct of policymakers influences transition paths after policy changes. We find that...
Persistent link: https://www.econbiz.de/10011292321
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Tales of Transition Paths : Policy Uncertainty and Random Walks
Hollmayr, Josef - 2015
What happens when fiscal and/or monetary policy changes systematically? We construct a DSGE model in which agents have to estimate fiscal and monetary policy rules and assess how uncertainty surrounding the conduct of policymakers influences transition paths after policy changes. We find that...
Persistent link: https://www.econbiz.de/10013014827
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Tales of Transition Paths : Policy Uncertainty and Random Walks
Hollmayr, Josef - 2016
What happens when fiscal and/or monetary policy changes systematically? We construct a DSGE model in which agents have to estimate fiscal and monetary policy rules and assess how uncertainty surrounding the conduct of policymakers influences transition paths after policy changes. We find that...
Persistent link: https://www.econbiz.de/10012988691
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Optimal monetary and fiscal policy with a zero bound on nominal interest rates
Schmidt, Sebastian - In: Journal of money, credit and banking : JMCB 45 (2013) 7, pp. 1335-1350
Persistent link: https://www.econbiz.de/10010197463
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Fiscal foundations of inflation : imperfect knowledge
Eusepi, Stefano; Preston, Bruce - 2013
This paper proposes a theory of the fiscal foundations of inflation based on imperfect knowledge and learning. The … theory is similar in spirit to, but distinct from, unpleasant monetarist arithmetic and the fiscal theory of the price level …
Persistent link: https://www.econbiz.de/10010202656
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Dealing with a liquidity trap when government debt matters : optimal time-consistent monetary and fiscal policy
Burgert, Matthias; Schmidt, Sebastian - 2013
How does the need to preserve government debt sustainability affect the optimal monetary and fiscal policy response to a liquidity trap? To provide an answer, we employ a small stochastic New Keynesian model with a zero bound on nominal interest rates and characterize optimal time-consistent...
Persistent link: https://www.econbiz.de/10010400894
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Modelling state-contingent fiscal rules in the United Kingdom
Rush, Jamie - In: National Institute economic review : journal of the … 254 (2020), pp. R41-R53
Persistent link: https://www.econbiz.de/10012384781