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Bianchi, Francesco; Melosi, Leonardo - 2014 - This draft: January 2014

announcements by the fiscal and monetary authorities can lead to high inflation and large output losses. The policy trade-off can be …

Persistent link: https://www.econbiz.de/10010439777

Generalizing Determinacy under Monetary and Fiscal Policy Switches : The Case of the Zero Lower Bound

Cho, Seonghoon - 2020

In a fixed-regime setting, it is known since Leeper (1991) that both monetary dominance (mix of active monetary and passive fiscal policies) and fiscal dominance (mix of active fiscal and passive monetary policy) regimes yield a determinate unique equilibrium. This paper shows that in a...

Persistent link: https://www.econbiz.de/10012847919

The size of fiscal multipliers and the stance of monetary policy in developing economies

Ojeda-Joya, Jair N.; Guzman, Oscar E. - 2017 - This version: February 2017

In this paper we estimate the effect of government consumption shocks on GDP using a panel of 21 developing economies. Our goal is to better understand the reasons for the low fiscal multipliers found in the literature by performing estimations for alternative exchange rate regimes,...

Persistent link: https://www.econbiz.de/10011620815

The size of fiscal multipliers and the stance of monetary policy in developing economies

Ojeda-Joya, Jair N.; Guzman, Oscar E. - 2017 - This version: May 2017

Persistent link: https://www.econbiz.de/10011659285

Achieving two policy targets with one policy instrument : heterogeneous expectations, countercyclical fiscal policy, and macroeconomic stabilization at the effective lower bound

Lima, Gilberto Tadeu; Setterfield, Mark; Silveira, … - 2023

inflation expectations driven by evolutionary dynamics. We show that at the ELB, fiscal policy conducted in accordance with a … interventions have both a direct effect on output and inflation (via aggregate demand formation) and an indirect effect on these …

Persistent link: https://www.econbiz.de/10014327480

Fiscal policy under the eyes of wary bondholders

Staffa, Ruben Marek; Schweinitz, Gregor von - Leibniz-Institut für Wirtschaftsforschung Halle - 2023

matter for inflation, and we document a Fisherian response of inflation across all maturities in response to a bond demand … perceived riskiness of sovereign debt increases inflation and thus complicates the task of controlling price growth. …

Persistent link: https://www.econbiz.de/10014467071

Macroeconomic effects of capital tax rate changes

Bhattarai, Saroj; Lee, Jae Won; Park, Woong-yong; Yang, … - 2019

short-run effects depend critically on the monetary policy response: whether the central bank allows inflation to directly …

Persistent link: https://www.econbiz.de/10012002979

Did fiscal consolidation cause the double dip recession in the euro area?

Heimberger, Philipp - 2015

closely related to the harshness of fiscal austerity. Cumulative multiplier estimates are found to vary in a range from 1.4 to … 2.1, depending on the data source used to identify the intensity of fiscal consolidation. Given these multiplier values …

Persistent link: https://www.econbiz.de/10011778844

The power of helicopter money revisited : a new Keynesian perspective

Carter, Thomas J.; Mendes, Rhys R. - 2020

allow money-demand shocks to generate volatility in output and inflation, much as was the case under the money …

Persistent link: https://www.econbiz.de/10012159954

Are Fiscal and Monetary Policies Reflected in Real Yields? Evidence from a Period of Disinflation and Declining Deficit Targets

Brender, Adi; Ber, Hedva; Ribon, Sigal - 2006

current literature by providing evidence about a period in which the government adopted declining inflation and deficit … inflation expectations, as is the case with the data for other countries. Our main finding is that fiscal and monetary policies …

Persistent link: https://www.econbiz.de/10014062080