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"An incomplete contract approach to Eurozone fiscal governance" : commitment vs. flexibility

Suzuki, Yutaka; Tsuranuki, Yoshihiro - In: International economic journal 31 (2017) 2, pp. 297-309

Persistent link: https://www.econbiz.de/10011800489

The impact of product and labour market reform on growth : evidence for OECD countries based on local projections

Haan, Jakob de; Wiese, Rasmus - 2020

This paper examines the impact of labour and product market reforms on economic growth in 25 OECD countries between 1985 and 2013, and tests whether this impact is conditioned by the fiscal policy stance, i.e. whether there are fiscal expansions or adjustments. Our local projection results...

Persistent link: https://www.econbiz.de/10012238489

Optimal monetary and fiscal policy with a zero bound on nominal interest rates

Schmidt, Sebastian - 2012

welfare losses associated with the presence of the zero bound. Under commitment, the gains associated with the use of the …

Persistent link: https://www.econbiz.de/10010368548

Optimal fiscal policy over the business cycle

Occhino, Filippo - 2005

is driven by exogenous technology shocks. We first consider the commitment case, and characterize the Ramsey equilibrium … positively correlated with production. Then, we relax the commitment assumption, and we show how to determine numerically whether …, Commitment, Time-consistency, Ramsey equilibrium, Markov perfect equilibria, Sustainable equilibria. …

Persistent link: https://www.econbiz.de/10010263265

Fiscal disipline and stability under currency board systems

Grimm, Oliver - 2007

In economic discussions, currency board systems are frequently described as arrangements with self-binding character to the monetary authorities by their strict rules and establishments by law. Hard pegs and especially currency boards are often seen as remedies to overcome economic and financial...