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Persistent link: https://www.econbiz.de/10009267831
This paper examines the interaction of monetary and fiscal policies using an estimated New Keynesian dynamic general equilibrium model for the US. In contrast to earlier work using VAR models, we show that the strategic complementarity or substitutability of fiscal and monetary policy depends...
Persistent link: https://www.econbiz.de/10011511042
Persistent link: https://www.econbiz.de/10010492632
This paper derives a New Keynesian dynamic general equilibrium model with liquidity- constrained consumers and sticky prices. The model allows a role for both government spending and taxation in the DGE model. The model is then estimated using US data. We demonstrate that there seems to be a...
Persistent link: https://www.econbiz.de/10011402458
Persistent link: https://www.econbiz.de/10002088618
Persistent link: https://www.econbiz.de/10002088623
Persistent link: https://www.econbiz.de/10003226302
This paper derives a New Keynesian dynamic general equilibrium model with liquidity- constrained consumers and sticky prices. The model allows a role for both government spending and taxation in the DGE model. The model is then estimated using US data. We demonstrate that there seems to be a...
Persistent link: https://www.econbiz.de/10002104543
Persistent link: https://www.econbiz.de/10003398720
This paper examines the interaction of monetary and fiscal policies using an estimated New Keynesian dynamic general equilibrium model for the US. In contrast to earlier work using VAR models, we show that the strategic complementary or substitutability of fiscal and monetary policy depends...
Persistent link: https://www.econbiz.de/10001807345