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Trust What You Hear : Policy Communication, Expectations, and Fiscal Credibility
End, Nicolas; Hong, Gee Hee - 2022
How do policy communications on future f iscal targets af fect market expectations and beliefs about the future conduct of f iscal policy? In this paper, we develop indicators of f iscal credibility that quantify the degree to which policy announcements anchor expectations, based on the...
Persistent link: https://www.econbiz.de/10013295113
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Redistribution and the monetary-fiscal policy mix
Bhattarai, Saroj; Lee, Jae Won; Yang, Choongryul - 2020
We show that the effectiveness of redistribution policy in stimulating the economy and improving welfare is directly … regime counteract the deflationary forces during the recession. Moreover, redistribution produces a Pareto improvement under …
Persistent link: https://www.econbiz.de/10012388237
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Redistribution and the monetary-fiscal policy mix
Bhattarai, Saroj; Lee, Jae-Won; Yang, Choongryul - In: Quantitative economics : QE ; journal of the … 14 (2023) 3, pp. 817-853
We show that the effectiveness of redistribution policy is tied to how much inflation it generates, and thereby to … effects of the CARES Act in a COVID recession. We find that transfer multipliers are larger, and that moreover, redistribution …
Persistent link: https://www.econbiz.de/10014362537
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Human frictions in the transmission of economic policy
D'Acunto, Francesco; Hoang, Daniel; Paloviita, Maritta; … - 2021 - This version: September 2021
transmission of economic policies that operate through the household sector and might imply redistribution from low- to high …
Persistent link: https://www.econbiz.de/10012617622
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Redistribution and the Monetary-Fiscal Policy Mix
Bhattarai, Saroj; Lee, Jae Won; Yang, Choongryul - 2021
We show that the effectiveness of redistribution policy in stimulating the economy and improving welfare is directly … deflationary forces during the recession. Moreover, redistribution produces a Pareto improvement under the fiscal regime …
Persistent link: https://www.econbiz.de/10013314763
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Redistribution and the Monetary–Fiscal Policy Mix
Bhattarai, Saroj; Lee, Jae Won; Yang, Choongryul - 2020
We show that the effectiveness of redistribution policy in stimulating the economy and improving welfare is directly … counteract the deflationary forces during the recession. Moreover, redistribution produces a Pareto improvement under the fiscal …
Persistent link: https://www.econbiz.de/10014090118
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Monetary and Fiscal Policy Options for Dealing with External Shocks : Insights from the GIMF for Colombia
Clements, Benedict - 2009
results suggest that under Colombia's inflation targeting regime, which incorporates exchange rate flexibility and a highly …
Persistent link: https://www.econbiz.de/10012764341
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The relationship between fiscal and monetary policies in Colombia : an empirical exploration of the credit channel
Lozano-Espitia, Ignacio; Arias Rodríguez, Fernando - In: Latin American journal of central banking : LAJCB 3 (2022) 4, pp. 1-14
This paper provides evidence of the relationship between fiscal and monetary policy in Colombia through an empirical … particularly large. Thus, we infer that there could be insufficient evidence of fiscal dominance in Colombia during the period …
Persistent link: https://www.econbiz.de/10014375480
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From export boom to private debt bubble : a macroeconomic policy regime assessment of Canada's shifting growth regime
Klassen, Theodore - In: European journal of economics and economic policies : … 21 (2024) 1, pp. 73-89
This paper examines the emergence of private debt-led growth in Canada since the Global Financial Crisis (GFC) by means of a growth regime and macroeconomic policy regime assessment. Examining each of the four business cycles in the 1983-2020 period, roughly encompassing the entirety of the...
Persistent link: https://www.econbiz.de/10014516158
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From export boom to private debt bubble : a macroeconomic policy regime assessment of Canada's shifting growth regime in the neoliberal era
Klassen, Theodore J. - 2023
This paper examines the emergence of private debt-led growth in Canada since the Global Financial Crisis (GFC) by means of a growth regimes and macroeconomic policy regime assessment. Examining each of the four business cycles in the 1983-2020 period, roughly encompassing the entirety of the...
Persistent link: https://www.econbiz.de/10013500697