Narrow search
Showing 1 - 10 of 175,898
Cover Image
Chapter 30. Understanding Inflation as a Joint Monetary–Fiscal Phenomenon
Leeper, E.M.; Leith, C. - In: Handbook of macroeconomics : volume 2, v. 2A-2B SET, (pp. 2305-2415). 2016
We develop the theory of price-level determination in a range of models using both ad hoc policy rules and jointly optimal monetary and fiscal policies and discuss empirical issues that arise when trying to identify monetary–fiscal regime. The chapter concludes with directions in which...
Persistent link: https://www.econbiz.de/10014024282
Cover Image
Options for China in a dollar standard world : a sovereign currency approach
Wray, L. Randall; Liu, Xinhua - 2014
This paper examines the fiscal and monetary policy options available to China as a sovereign currency-issuing nation operating in a dollar standard world. We first summarize a number of issues facing China, including the possibility of slower growth, global imbalances, and a number of domestic...
Persistent link: https://www.econbiz.de/10010228185
Cover Image
Government solvency, austerity and fiscal consolidation in the OECD : a keynesian appraisal of transversality and no ponzi game conditions
Azizi, Karim; Canry, Nicolas; Chatelain, Jean-Bernard; … - 2013
This paper investigates the relevance of the No-Ponzi game condition for public debt (i.e. the public debt growth rate has to be lower than the real interest rate, a necessary assumption for Ricardian equivalence) and of the transversality condition for the GDP growth rate (i.e. the GDP growth...
Persistent link: https://www.econbiz.de/10009737169
Cover Image
Fiscal implications of the ECB's public sector purchase programme (PSPP)
Lehment, Harmen - 2018
The large Public Sector Purchase Programme (PSPP) which the ECB started in 2015 on the basis of monetary policy purposes, had major side-effects on fiscal policy. One concerns the programme´s uncommon seigniorage effects. We find that the PSPP not only led to partly negative seigniorage gains,...
Persistent link: https://www.econbiz.de/10011880129
Cover Image
The Performance of Monetary and Fiscal Rules in an Open Economy with Imperfect Capital Mobility
Meirelles Aurelio, Marcela - 2005
1999 has targets for inflation and for the primary surplus. The main finding is that a fiscal regime characterized by a …
Persistent link: https://www.econbiz.de/10014067414
Cover Image
Government Solvency, Austerity and Fiscal Consolidation in the OECD : A Keynesian Appraisal of Transversality and No Ponzi Game Conditions
Azizi, Karim - 2013
This paper investigates the relevance of the No-Ponzi game condition for public debt (i.e. the public debt growth rate has to be lower than the real interest rate, a necessary assumption for Ricardian equivalence) and of the transversality condition for the GDP growth rate (i.e. the GDP growth...
Persistent link: https://www.econbiz.de/10013085879
Cover Image
The Monetary Origins of the Price Revolution' Before the Influx of Spanish-American Treasure: the South German Silver-Copper Trades, Merchant-Banking, and Venetian Commerce, 1470-1...
Munro, John H. - University of Toronto, Department of Economics - 1999
sustained inflation (c.1520 - c.1640) commonly known as the Price Revolution'; and in particular it provides an answer to the … economists and historians had attributed this sustained European inflation to the influx of Spanish-American treasure', chiefly … historians pointed out that European inflation had commenced as early as the 1520s, some three decades before any substantial …
Persistent link: https://www.econbiz.de/10005704807
Cover Image
The simple analytics of helicopter money : why it works - always
Buiter, Willem H. - 2014
The author provides a rigorous analysis of Milton Friedman's parable of the "helicopter" drop of money a permanent/irreversible increase in the nominal stock of fiat base money rate which respects the intertemporal budget constraint of the consolidated Central Bank and Treasury - the State....
Persistent link: https://www.econbiz.de/10010392960
Cover Image
Economic Stability and Economic Governance in the Euro Area : What the European Crisis Can Teach on the Limits of Economic Integration
Lupo-Pasini, Federico - 2013
The recent European economic crisis has dramatically exposed the failures of the various institutional mechanisms in place to maintain economic stability in Europe, and has unveiled the difficulty in achieving international coordination on fiscal and financial stability policies. Drawing on the...
Persistent link: https://www.econbiz.de/10013085690
Cover Image
The Design of Emu
Begg, David - 2006
Pursuit of price stability may, but need not, exacerbate output fluctuations. This paper discusses the monetary strategy of the European Central Bank, the intermediate targets that this should entail, and implications for accountability, transparency, and reputation. Country-specific shocks will...
Persistent link: https://www.econbiz.de/10012782216