Showing 1 - 10 of 63
The quantitative easing (QE) policies implemented in recent years by central banks have had a profound impact on the working of money markets, giving rise to large excess reserves and pushing down key interbank rates against their floor – the interest rate on reserves. With macroeconomic...
Persistent link: https://www.econbiz.de/10012895410
This paper shows that there exist fiscal strategies that deliver equilibrium uniqueness in a monetary economy in which the central bank follows an interest rate peg. In contrast to the fiscal theory of the price level (FTPL), such strategies always satisfy a government intertemporal budget...
Persistent link: https://www.econbiz.de/10012725821
Persistent link: https://www.econbiz.de/10001067195
Persistent link: https://www.econbiz.de/10001463529
Persistent link: https://www.econbiz.de/10001481549
Persistent link: https://www.econbiz.de/10000977737
Persistent link: https://www.econbiz.de/10000947800
Persistent link: https://www.econbiz.de/10000998666
Persistent link: https://www.econbiz.de/10001322308
Persistent link: https://www.econbiz.de/10001300585