Showing 1 - 10 of 13
Persistent link: https://www.econbiz.de/10009671391
Persistent link: https://www.econbiz.de/10009679756
This paper studies whether policymakers should wait to intervene until a financial crisis strikes or rather act in a preemptive manner. This question is examined in a relatively simple dynamic stochastic general equilibrium model in which crises are endogenous events induced by the presence of...
Persistent link: https://www.econbiz.de/10009684214
In this paper we study whether policy makers should wait to intervene until a financial crisis strikes or rather act in a preemptive manner. We study this question in a relatively simple dynamic stochastic general equilibrium model in which crises are endogenous events induced by the presence of...
Persistent link: https://www.econbiz.de/10013099178
We evaluate alternative public debt management policies in light of constraints imposed by the effective lower bound on interest rates. Replacing the current limit on gross debt issued by the fiscal authority with a limit on consolidated debt of the government can ensure that output always...
Persistent link: https://www.econbiz.de/10012822665
There is a new and now extensive literature analyzing government policies for financial stability based on models with endogenous borrowing constraints. These normative analyses often build upon the concept of constrained efficient allocation, where the social planner is constrained by the same...
Persistent link: https://www.econbiz.de/10012860452
There is a new and now large literature analyzing government policies for financial stability based on models with endogenous borrowing constraints. These normative analyses build upon the concept of constrained efficient allocation, where the social planner is constrained by the same borrowing...
Persistent link: https://www.econbiz.de/10012860932
We evaluate alternative public debt management policies in light of constraints imposed by the effective lower bound on interest rates. Replacing the current limit on gross debt issued by the fiscal authority with a limit on consolidated debt of the government can ensure that output always...
Persistent link: https://www.econbiz.de/10012830704
Persistent link: https://www.econbiz.de/10009632186
There is a new and now extensive literature analyzing government policies for financial stability based on models with endogenous borrowing constraints. These normative analyses often build upon the concept of constrained efficient allocation, where the social planner is constrained by the same...
Persistent link: https://www.econbiz.de/10012480341