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Monetary and fiscal policy in monetary union under the zero lower bound constraint
Flotho, Stefanie - 2012
This paper explicitly models strategic interaction between two independent national fiscal authorities and a single central bank in a simple New Keynesian model of a monetary union. Monetary policy is constrained by the zero lower bound on nominal interest rates. Coordination of fiscal policies...
Persistent link: https://www.econbiz.de/10009560040
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Monetary and fiscal policy in a monetary union under the zero lower bound constraint
Flotho, Stefanie - 2012
This paper explicitly models strategic interaction between two independent national fiscal authorities and a single central bank in a simple New Keynesian model of a monetary union. Monetary policy is constrained by the zero lower bound on nominal interest rates. Coordination of fiscal policies...
Persistent link: https://www.econbiz.de/10009671236
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Monetary and fiscal policy in monetary union under the zero lower bound constraint
Flotho, Stefanie - 2012
This paper explicitly models strategic interaction between two independent national fiscal authorities and a single central bank in a simple New Keynesian model of a monetary union. Monetary policy is constrained by the zero lower bound on nominal interest rates. Coordination of fiscal policies...
Persistent link: https://www.econbiz.de/10010325141
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Dealing with a liquidity trap when government debt matters : optimal time-consistent monetary and fiscal policy
Burgert, Matthias; Schmidt, Sebastian - 2013
expectations that helps to dampen the fall in output and inflation at the outset of the liquidity trap. …
Persistent link: https://www.econbiz.de/10010400894
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Time-consistent management of a liquidity trap with government debt
Matveev, Dmitry - 2018
pushes up inflation expectations so as to offset the opposite effect due to the lower bound risk. …
Persistent link: https://www.econbiz.de/10011881785
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How to starve the beast: fiscal and monetary policy rules
Martin, Fernando M. - 2019
, effective revenue ceilings induce an increase in deficit, debt and inflation. Under many scenarios, including recurrent adverse …
Persistent link: https://www.econbiz.de/10012137093
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Optimal deficit-spending in a liquidity trap with long-term government debt
De Beauffort, Charles - 2022
When the government issues long-term bonds, the optimal time-consistent fiscal and monetary policy is to consolidate debt in a liquidity trap by increasing taxes and by taming public spending. This prescription is at odds with large deficit-spending undertaken in the US during previous liquidity...
Persistent link: https://www.econbiz.de/10013278929
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Dealing with a Liquidity Trap When Government Debt Matters : Optimal Time-Consistent Monetary and Fiscal Policy
Burgert, Matthias - 2014
sector expectations that helps to dampen the fall in output and inflation at the outset of the liquidity trap …
Persistent link: https://www.econbiz.de/10013061806
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Economics of Intellectual Capital (6) : Global Reserve Assets as a Solution to the Monetary Trilemma under Intertemporal Trade
Ziesemann, Cyndia - 2023
The antecedent studies have designed new funding with the intellectual capital money (IKM) upon trading the intellectual capital (IK) to ensure unimpeded access to it and spur its generation and exploitation. This piece examines the static and dynamic behavior of IKM in an open economy. The...
Persistent link: https://www.econbiz.de/10014346507
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Managing the inflation-output trade-off with public debt portfolios
Chafwehé, Boris; De Beauffort, Charles; Oikonomou, Rigas - 2024
When taxes do not sufficiently adjust to government debt levels, the Fiscal Theory of the Price Level predicts that … other variables, such as inflation and output gap, must adjust to ensure the solvency of public finances. We study the role …-off between inflation and output gap: The Persistence, Discounting and Hedging channels. Our findings, based on a rich prior …
Persistent link: https://www.econbiz.de/10014578187