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Monetary and Fiscal Complementarity in the Covid-19 Pandemic
Chadha, Jagjit; Corrado, Luisa; Meaning, Jack; Schuler, … - 2021
In response to the coronavirus (Covid-19) pandemic, there has been a complementary approach to monetary and fiscal policy in the United States with the Federal Reserve System purchasing extraordinary quantities of securities and the government running a deficit of some 17% of projected GDP. The...
Persistent link: https://www.econbiz.de/10013210564
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Subjective models of the macroeconomy: evidence from experts and representative samples
Andre, Peter; Pizzinelli, Carlo; Roth, Christopher; … - 2021
We study people’s subjective models of the macroeconomy and shed light on their at-tentional foundations. To do so, we measure beliefs about the effects of macroeconomic shocks on unemployment and inflation, providing respondents with identical information about the parameters of the shocks...
Persistent link: https://www.econbiz.de/10012663050
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Political cycles in Latin America : more evidence on the Brazilian economy
Costa, Celso José; García-Cintado, Alejandro; … - In: Latin American economic review : LAER ; official … 30 (2021), pp. 1-17
line with what the consensus in this literature states for the case of Brazil. …
Persistent link: https://www.econbiz.de/10012818003
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Interaction of monetary and fiscal policies in Turkey
Büyükbaşaran, Tayyar; Çebi, Cem; Yılmaz, Erdal - In: Central Bank review / Central Bank of the Republic of Turkey 20 (2020) 4, pp. 193-203
This paper aims to investigate the interaction between monetary and fiscal policies in Turkey. For this purpose, a Bayesian Structural Vector Autoregression (SVAR) model with sign and zero restrictions is used. We particularly focus on how the fiscal and monetary policy variables respond to...
Persistent link: https://www.econbiz.de/10012429632
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An estimated model of a commodity-exporting economy for the integrated policy framework : evidence from Mongolia
Doojav, Gan-Ochir; Gantumur, Munkhbayar - 2023
This paper develops an estimated New Keynesian model of a commodity-exporting economy for an integrated policy framework, integrating the full range of policies used in practice and featuring a range of nominal and real rigidities, macro-financial linkages, and transmission channels of external...
Persistent link: https://www.econbiz.de/10014249617
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Managing an Energy Shock : Fiscal and Monetary Policy
Auclert, Adrien; Monnery, Hugo; Rognlie, Matthew; … - National Bureau of Economic Research - 2023
demand. Fiscal policy, especially energy price subsidies, can isolate individual energy importers from the shock, but it has …
Persistent link: https://www.econbiz.de/10014337777
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The Effects of Macroeconomic Policy Shocks on the UK Labour Market
Tagkalakis, Athanasios - 2005
policy shock are in line with economic theory and previous empirical evidence. The adjustment of labour input is primarily … shock. Over the more recent period this result is overturned with bigger and faster response in average hours two quarters … after the shock. We interpret this result as being suggestive of labour market reforms during the 1980s having reduced the …
Persistent link: https://www.econbiz.de/10014065323
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Economic policy in India : for economic stimulus, or for austerity and volatility?
Sen, Sunanda; DasGupta, Zico - 2014
The implementation of economic reforms under new economic policies in India was associated with a paradigmatic shift in monetary and fiscal policy. While monetary policies were solely aimed at "price stability" in the neoliberal regime, fiscal policies were characterized by the objective of...
Persistent link: https://www.econbiz.de/10010385761
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Future of the Economic and Monetary Union
Gortsos, Christos V. - 2022
The present paper contains a brief presentation and analysis, in a historical perspective through the lens of the recent major crises, of the legal framework governing the European Economic and Monetary Union (EMU), as well as current developments and challenges ahead. It is structured in three...
Persistent link: https://www.econbiz.de/10014077291
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Fiscal Austerity and Quantitative Easing : A Modern Monetary Critique of the Mainstream Neoclassical View
Pugh, Trevor - 2014
Only by having a proper understanding of the function of money and finance in the economy can we hope to correctly inform decision making in monetary and fiscal policy. This paper will argue that neoclassical economics fails to do this, which results in suboptimal decision making from...
Persistent link: https://www.econbiz.de/10013052398