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Trend growth and the dynamic effects of government spending
Tesfaselassie, Mewael F. - 2011
The paper studies the macroeconomic effects of government spending shocks in an economy characterized by positive trend growth. It shows that the lower is the trend growth rate the less inflationary are government spending shocks and vice versa. Moreover, on impact output is higher but exhibits...
Persistent link: https://www.econbiz.de/10008821669
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Inflation Bias and Markup Shocks in a LAMP Model with Strategic Interaction of Monetary and Fiscal Policy
Albonico, Alice - 2017
and the short run equilibrium require a departure from zero inflation rate; (ii) in response to a markup shock, fiscal …
Persistent link: https://www.econbiz.de/10012962797
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Inflation bias and markup shocks in a LAMP model with strategic interaction of monetary and fiscal policy
Albonico, Alice; Rossi, Lorenza - In: Journal of macroeconomics 52 (2017), pp. 39-55
Persistent link: https://www.econbiz.de/10011752658
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UK monetary policy in an estimated DSGE model with state-dependent price and wage contracts
Chen, Haixia; Le, Vo Phuong Mai; Meenagh, David; … - 2023
, particularly inflation; nonetheless, macro-level evidence for this is scarce. We incorporate state-dependent price/wage setting …
Persistent link: https://www.econbiz.de/10014434524
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When is monetary policy all we need?
Eser, Fabian; Leith, Campbell B.; Wren-Lewis, Simon - 2009
Persistent link: https://www.econbiz.de/10003839033
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When is monetary policy all we need?
Eser, Fabian; Leith, Campbell B.; Wren-Lewis, Simon - 2009
Persistent link: https://www.econbiz.de/10003839285
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Optimal fiscal and monetary policy with sticky wages and sticky prices
Chugh, Sanjay K. - In: Review of economic dynamics 9 (2006) 4, pp. 683-714
Persistent link: https://www.econbiz.de/10003387475
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Optimal fiscal and monetary policy with sticky wages and sticky prices
Chugh, Sanjay K. - 2005
Persistent link: https://www.econbiz.de/10002968498
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Sticky Wages, Monetary Policy and Fiscal Policy Multipliers
Dupor, Bill - 2019
This paper demonstrates how adding nominal wage rigidity to a standard sticky price model can create a mechanism by which increases in government spending cause increases in consumption. The increase in output arising from government purchases puts upward pressure on the price level. At a fixed...
Persistent link: https://www.econbiz.de/10013210473
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Optimal Fiscal and Monetary Policy with Sticky Wages and Sticky Prices
Chugh, Sanjay K. - 2005
We determine the optimal degree of price inflation volatility when nominal wages are sticky and the government uses … state-contingent inflation to finance government spending. We address this question in a well-understood Ramsey model of … shocks, to a degree quantitatively similar as sticky prices alone. With productivity shocks also present, optimal inflation …
Persistent link: https://www.econbiz.de/10014063730