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The power of helicopter money revisited: A new Keynesian perspective
Carter, Thomas J.; Mendes, Rhys R. - 2020
We analyze money financing of fiscal transfers (helicopter money) in two simple New Keynesian models: a "textbook" model in which all money is non-interest-bearing (e.g., all money is currency), and a more realistic model with interest-bearing reserves. In the textbook model with only...
Persistent link: https://www.econbiz.de/10012388833
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Less-cash or more-cash? Determinants and trends of currency in circulation in a panel of 17 economies
Chandrakamal, Kumar; Kumar, Pramod - 2023
Digital payments are growing rapidly, and the use of cash seems to be declining, at least in advanced economies in Europe and the U.S. However, the literature on payment systems provides an interesting perspective- cash, or currency, when measured as a percentage of the gross domestic product,...
Persistent link: https://www.econbiz.de/10014494915
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The power of helicopter money revisited : a new Keynesian perspective
Carter, Thomas J.; Mendes, Rhys R. - 2020
We analyze money financing of fiscal transfers (helicopter money) in two simple New Keynesian models: a "textbook" model in which all money is non-interest-bearing (e.g., all money is currency), and a more realistic model with interest-bearing reserves. In the textbook model with only...
Persistent link: https://www.econbiz.de/10012159954
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Less-cash or more-cash? : determinants and trends of currency in circulation in a panel of 17 economies
Chandrakamal, Kumar; Kumar, Pramod - 2023
Digital payments are growing rapidly, and the use of cash seems to be declining, at least in advanced economies in Europe and the U.S. However, the literature on payment systems provides an interesting perspective- cash, or currency, when measured as a percentage of the gross domestic product,...
Persistent link: https://www.econbiz.de/10014424236
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Economic policy in India : for economic stimulus, or for austerity and volatility?
Sen, Sunanda; DasGupta, Zico - 2014
The implementation of economic reforms under new economic policies in India was associated with a paradigmatic shift in monetary and fiscal policy. While monetary policies were solely aimed at "price stability" in the neoliberal regime, fiscal policies were characterized by the objective of...
Persistent link: https://www.econbiz.de/10010385761
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The role of lenders' trust in determining borrowing conditions for sovereign debt : an analysis of one-period government bonds with default risk
Guo, Yanling - 2015
In this paper, the author considers the sovereign debt in the form of one-period government bonds with default risk, which can be purchased by and traded among domestic and foreign investors. She shows that the weight assigned to the lenders' interest by the borrowing government at the time of...
Persistent link: https://www.econbiz.de/10010512528
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A reconsideration of multiple equilibria in the analysis of one-period government bonds with default risk
Guo, Yanling - 2015
In this paper, the author considers sovereign debt in the form of one-period government bonds with default risk, which can be purchased by and traded among domestic and foreign investors. She shows that the "good equilibrium" is the only stable equilibrium under some quite general assumptions,...
Persistent link: https://www.econbiz.de/10011349880
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Ambulance Economics: The Pros and Cons of Fiscal Stimuli
Corden, W. Max - Crawford School of Public Policy, Australian National … - 2009
This lecture deals not with the causes of the world financial crisis nor how to forecast or avoid one in the future, nor how to revive the financial sector, but rather with the crucial emergency "ambulance" policy of fiscal stimulus. What are the main effects of stimuli policies, and, in...
Persistent link: https://www.econbiz.de/10008468998
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International Capital Flows, Federal Budget Deficits, and Interest Rates, 1971-1984
Belton, Willie; Cebula, Richard - Volkswirtschaftliche Fakultät, … - 1994
This study investigates the impact of federal budget deficits on both short-term and long­-term interest rates from 1971 to 1984 within an open IS-IM model that includes net international capital inflows. Two time periods are examined using quarterly data: 1971.4 to 1984.4 and 1979.4 to 1984.4....
Persistent link: https://www.econbiz.de/10011261058
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Keynes’ Metaphor of the Newspaper Competition: A Model
Sanyal, Amal - EconWPA - 2005
Keynes’ General Theory provides an interesting metaphor for asset markets: they are like newspaper competitions where … closest to the average preferences. Keynes did not explicitly formalise the metaphor but his observations about the bond … of decision rules from the suggestions in the General Theory and Keynes' QJE(1937) paper, and introduces a concept of …
Persistent link: https://www.econbiz.de/10005126429