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Fiscal deficits, debt, and monetary policy in a liquidity trap
Devereux, Michael B. - Federal Reserve Bank of Dallas - 2010
The macroeconomic response to the economic crisis has revived old debates about the usefulness of monetary and fiscal policy in fighting recessions. Without the ability to further lower interest rates, policy authorities in many countries have turned to expansionary fiscal policies. Recent...
Persistent link: https://www.econbiz.de/10008475891
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Federal government debt and inflation: evidence from Granger causality tests
Hafer, R.W.; Hein, Scott E. - Federal Reserve Bank of St. Louis - 1986
Persistent link: https://www.econbiz.de/10005490927
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Learning the fiscal theory of the price level: some consequences of debt management policy
Eusepi, Stefano; Preston, Bruce - Federal Reserve Bank of New York - 2011
This paper examines how the scale and composition of public debt can affect economies that implement a combination of …
Persistent link: https://www.econbiz.de/10009320709
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The social value of risk-free government debt
Schreft, Stacey L.; Smith, Bruce D. - Federal Reserve Bank of Kansas City - 2003
This paper considers whether eliminating the stock of government debt outstanding would reduce welfare. It models an economy with three assets—currency, government bonds, and storage, a transactions role for money, and a demand for liquidity and thus a role for banks. The Friedman rule is not...
Persistent link: https://www.econbiz.de/10005410789
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Nominal debt as a burden on monetary policy
Díaz-Giménez, Javier; Giovannetti, Giorgia; Marimon, Ramon - Federal Reserve Bank of Chicago - 2004
We study the effects of nominal debt on the optimal sequential choice of monetary and debt policy. When the stock of debt is nominal, the incentive to generate unanticipated inflation increases the cost of the outstanding debt even if no unanticipated inflation episodes occur in equilibrium....
Persistent link: https://www.econbiz.de/10005419963
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Fiscal foundations of inflation: imperfect knowledge
Eusepi, Stefano; Preston, Bruce - Federal Reserve Bank of New York - 2013
scale and composition of the public debt, matter for inflation. As a result, fiscal policy constrains the efficacy of … moderate had fiscal policy been characterized by a scale and composition of public debt now witnessed in some advanced …
Persistent link: https://www.econbiz.de/10010702291
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Is money growth and inflation related to government deficits? Evidence from ten industrialized countries
Protopapadakis, Aris A.; Siegel, Jeremy J. - Federal Reserve Bank of Philadelphia - 1986
Persistent link: https://www.econbiz.de/10005512331
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Albania; Fourth Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility, Request for a Waiver of Nonobservance of Performance Criterion, and Financi...
International Monetary Fund (IMF); International … - 2004
This paper focuses on Albania’s Fourth Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility (PRGF), Request for a Waiver of Nonobservance of Performance Criterion, and Financing Assurances Review. Performance since the third review has been satisfactory...
Persistent link: https://www.econbiz.de/10005252598
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Public Debt Markets in Central America, Panama, and the Dominican Republic
Jobst, Andreas; Valderrama, Laura; Guerra, Ivan; Shah, … - International Monetary Fund (IMF) - 2007
This paper-consisting of a regional study and seven country studies-reviews the state of domestic public debt markets … account for the lion's share of capital markets, regional public debt markets remain underdeveloped for a variety of reasons …. The problems of small scale, dollarization, and weak public finances in many countries are compounded by poor structure …
Persistent link: https://www.econbiz.de/10005825635
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Albania; 2002 Article IV Consultation and First Review under the Three-Year Arrangement under the Poverty Reduction and Growth Facility, and Requests for Modification and Waiver of...
International Monetary Fund (IMF); International … - 2003
This paper examines Albania’s 2002 Article IV Consultation, First Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility (PRGF), and Requests for Modification and Waiver of Performance Criterion. Economic growth appears to have fallen below a 7 percent...
Persistent link: https://www.econbiz.de/10005768602