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stance of monetary/fiscal policy. Accounting for risk premia in the fiscal theory allows the government portfolio to affect … fiscal theory directly depend on the conditional nominal term premium, giving rise to an optimal debt maturity policy that is …
Persistent link: https://www.econbiz.de/10012886258
stance of monetary/fiscal policy. Accounting for risk premia in the fiscal theory allows the government portfolio to affect … fiscal theory directly depend on the conditional nominal term premium, giving rise to an optimal debt maturity policy that is …
Persistent link: https://www.econbiz.de/10012643869
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, whether the fiscal theory of the price level (FTPL) is able to deliver a reasonable explanation for the different evolutions …
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In this paper, I embed the fiscal theory of the price level (FTPL) in a simple continuous-time New Keynesian (NK) model …. Equipped with the fiscal theory, I evaluate the Great East Japan Earthquake of 2011 and show how to explain and solve the …
Persistent link: https://www.econbiz.de/10014076394
This paper aims to contribute to the empirical literature on the interaction between monetary and fiscal policy. We consider the impact of monetary and fiscal policy shocks on inflation and output dynamics using a Time-Varying Parameter Factor-Augmented VAR (TVP-FAVAR). In baseline results from...
Persistent link: https://www.econbiz.de/10012966776