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Investment spending, equilibrium indeterminacy, and the interactions of monetary and fiscal policy

Lubik, Thomas A. - 2003

sticky, and the less competitive firms are, the economy is likely to exhibit indeterminacy even if monetary policy is active. …

Persistent link: https://www.econbiz.de/10010293451

Monetary equilibria in a cash-in-advance economy with incomplete financial markets

Bai, Jinhui H.; Schwarz, Ingolf - 2005

The general equilibrium model with incomplete financial markets (GEI) is extended by adding fiat money, fiscal and monetary policy and a cash-in-advance constraint. The central bank either pegs the interest rate or money supply while the fiscal authority sets a Ricardian or a non-Ricardian...

Persistent link: https://www.econbiz.de/10010264772

Money and prices under uncertainty

Nakajima, Tomoyuki; Polemarchakis, Herakles - 2001

remains indeterminacy indexed by an arbitrary probability measure over the set of states of the world. With an interest rate … policy, and only if the asset market is complete, indeterminacy is nominal: it affects prices, but not the allocation of … resources at equilibrium; with a money-supply policy, the indeterminacy is real. Portfolio policy sets the portfolio of assets …

Persistent link: https://www.econbiz.de/10010318888

Indeterminate balanced growth under habit persistence and fiscal policies

Lee, Hyeon O.; Park, Hyun - In: International economic journal 29 (2015) 2, pp. 259-284

Persistent link: https://www.econbiz.de/10010532597

Government spending shocks and rule-of-thumb consumers with steady-state inequality

Natvik, Gisle James - In: The Scandinavian journal of economics 114 (2012) 4, pp. 1414-1436

Persistent link: https://www.econbiz.de/10009744333

Aggregate stability and balanced-budget rules

Ghilardi, Matteo F.; Rossi, Raffaele - In: Journal of money, credit and banking : JMCB 46 (2014) 8, pp. 1787-1809

Persistent link: https://www.econbiz.de/10010470072

When the Taylor principle is insufficient : a benchmark for the fiscal theory of the price level in a monetary union

Brede, Maren - 2014

This paper derives restrictions on monetary and fiscal policies for determinate equilibria in a two-country monetary union with autarkic members. It finds that a central bank following the Taylor principle may not be sufficient for determinacy unless accompanied by one 'active' fiscal authority...

Persistent link: https://www.econbiz.de/10010436521

Factor substitution and taxation in a finance constrained economy

Xue, Jianpo; Yip, Chong Kee - In: Journal of mathematical economics 55 (2014), pp. 101-112

Persistent link: https://www.econbiz.de/10011297072

Aggregate instability and fiscal policies : balanced budget rules and productive public spending

Park, Hyun - In: The Korean economic review 31 (2015) 1, pp. 25-56

Persistent link: https://www.econbiz.de/10011297964

Money and prices under uncertainty

Nakajima, Tomoyuki; Polemarchakis, Heraklis M. - In: The review of economic studies 72 (2005) 1, pp. 223-246

Persistent link: https://www.econbiz.de/10002652302