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Identifying effective combinations of economic policy measures for the coronavirus recession in Europe
Bernoth, Kerstin; Clemens, Marius; Dany-Knedlik, Geraldine - In: DIW weekly report : economy, politics, science : a … 10 (2020) 23, pp. 263-273
As the coronavirus pandemic spread across the globe in early 2020, the European Central Bank as well as national …
Persistent link: https://www.econbiz.de/10012231998
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The dire effects of the lack of monetary and fiscal coordination
Bianchi, Francesco; Melosi, Leonardo - 2017
adamant about preventing a rise in inflation? The large fiscal imbalance brings about inflationary pressures, triggering a … spiral of higher inflation, output contraction, and further debt accumulation. A coordinated commitment to inflate away the …
Persistent link: https://www.econbiz.de/10011774982
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The relevance of Haavelmo's macroeconomic theorizing for contemporary macro policy making
Chand, Sheetal K. - 2012 - Publisert 27. feb. 2012 09:34 - Sist endret 27. feb. 2012 10:49
The recent great financial crisis and the ensuing deep recessions have placed in sharp relief the fundamental issue of how financial factors, including financial instability, interact with the real economy. In order to understand the nature of these interactions and formulate policies that would...
Persistent link: https://www.econbiz.de/10009501890
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Macroeconomic Policy Interaction : State Dependency and Implications for Financial Stability in UK: A Systemic Review
Nasir, Muhammad Ali - 2017
The association between economic and financial stabilities and influence of macroeconomic policies on the financial sector creates scope of active policy role in financial stability. As a contribution to the existing body of knowledge, this study has analysed the implications of macroeconomic...
Persistent link: https://www.econbiz.de/10012951527
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The Monetary Transmission Mechanism in the Euro Area : Has It Changed with the EMU? A VAR Approach, with Fiscal Policy and Financial Stress Considerations
Afonso, António - 2014
We study whether the adoption of the Euro and a single monetary policy have brought about a change in the monetary transmission mechanism and between the interactions of monetary policy, fiscal policy and financial stress in the Euro area. We find that the stylized facts of monetary transmission...
Persistent link: https://www.econbiz.de/10013050644
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Excess Reserves, Unconventional Monetary Policy and the Consequences for Fiscal Stimulus Packages
Terveer, Pascal - 2014
Employing huge economic stimulus packages was a common response of many policy leaders during the past financial crisis. In Germany for instance, the government enacted two fiscal packages with an overall volume of approximately 80 billion Euros. On the other hand, the distortions in the banking...
Persistent link: https://www.econbiz.de/10013053647
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Fiscal stabilization in the United States : lessons for monetary unions
Nikolov, Plamen; Pasimeni, Paolo - 2019
The debate about the use of fiscal instruments for macroeconomic stabilization has regained prominence in the aftermath of the Great Recession, and the experience of a monetary union equipped with fiscal shock absorbers, such as the United States, has often been a reference. This paper enhances...
Persistent link: https://www.econbiz.de/10011999069
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How Can Recessions Be Brought to an End? Effects of Macroeconomic Policy Actions on Durations of Recessions
Tas, Bedri Kamil Onur - 2011
This paper analyzes how effective macroeconomic policy actions are in ending recessions. We also investigate which structural factors help the country to get out of recessions, in other words experience shorter recessions. We implement survival regression analysis and conclude that expansionary...
Persistent link: https://www.econbiz.de/10013120859
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Estimating US Fiscal and Monetary Interactions : From Volcker Chairmanship to the Great Recession
Gerba, Eddie - 2013
Locating the appropriate degree of interaction between fiscal and monetary policy plays an important role in ensuring economic stability. Their joint impact is, however, still unclear. We observe significant differences in the transmission of shocks, in particular between the Great Recession and...
Persistent link: https://www.econbiz.de/10013073633
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Monetary policy, trends in real interest rates and depressed demand
Beaudry, Paul; Meh, Césaire Assah - 2021 - Last updated: August 16, 2021
long run. In particular, we show that if monetary policy reacts aggressively to inflation, this supports a steady state … where inflation is close to the central bank's target. However, the same aggressive policy simultaneously favours the … inflation are lower and monetary policy is constrained by the effective lower bound. We discuss how fiscal policy can be used to …
Persistent link: https://www.econbiz.de/10012546126