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The objective of this paper is to analyze the monetary and fiscal history of Mexico using a model of the consolidated … between the federal government and Banco de México, and policy choices made in the aftermath of the 1994 crisis, are … the 1982 crisis, Mexico succeeded in controlling inflation. I discuss forces that reduced inflation over time: a long …
Persistent link: https://www.econbiz.de/10012898373
This paper examines a dynamic stochastic economy with a benevolent government that cannot commit to its future policies. I consider equilibria that are time-consistent and allow for history-dependent strategies. A new numerical algorithm is developed to solve for the set of equilibrium payoffs....
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, Mexico, and Turkey. For each country, we estimate a vector autoregression (VAR) that includes fiscal and macroeconomic …
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Would population aging affect the effectiveness of fiscal stimulus? Despite the renewed focus on population aging, there are few empirical studies on the output effects of fiscal policy in aging economies. Our study fills this gap by analyzing this issue in OECD countries. We find that, as...
Persistent link: https://www.econbiz.de/10012828221
What do we know about the output effects of fiscal policy in low income countries (LICs)? There are very few empirical studies on the subject. This paper fills this gap by estimating the output effects of government spending shocks in LICs. Our analysis-based on the local projection method-finds...
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