Interactions between monetary and fiscal policies
نویسندگان
چکیده
منابع مشابه
Regime Switching Monetary and Fiscal Policies
This note presents a stylized model of monetary and fiscal policies in which policy regime evolves randomly according to a Markov chain. This simple model is designed to illustrate that well-defined and unique equilibria can exist even in such an environment. It also shows that under certain assumptions about policy behavior, tax disturbances can generate wealth effects in line with the fiscal ...
متن کاملOptimal Growth Using Fiscal and Monetary Policies
Institut International d’Economie Politique IIEP International Economic Policy Institute IEPI Institut International d’Economie Politique IIEP International Economic Policy Institute IEPI Institut International d’Economie Politique IIEP International Economic Policy Institute IEPI Institut International d’Economie Politique IIEP International Economic Policy Institute IEPI Institut Internationa...
متن کاملChapter 15 Monetary - Fiscal Interactions
In this section, we briefly explore some issues surrounding the interactions between monetary policy and fiscal policy. In developed countries, monetary-policy-setting is effectively “independent” from fiscal-policy-setting, in the sense that separate authorities control the two types of policy-making. For example, Federal Reserve policy-makers are not the same as Congressional policy-makers. E...
متن کاملDynamic Monetary-Fiscal Interactions and the Role of Monetary Conservatism
The present paper reassesses the role of monetary conservatism in a setting with nominal government debt and endogenous fiscal policy. We assume that macroeconomic policies are chosen by monetary and fiscal policy makers who interact repeatedly but cannot commit to future actions. The real level of public liabilities is an endogenous state variable, and policies are chosen in a non-cooperative ...
متن کاملEquilibria under ‘active’ and ‘passive’ monetary and fiscal policies
Monetary and fiscal policy interactions are studied in a stochastic maximizing model. Policy is ‘active’ or ‘passive’ depending on its responsiveness to government debt shocks. Schemes for financing deficits and, therefore, the existence and uniqueness of equilibria depend on two policy parameters. The model is used to: (i) characterize the equilibria implied by various financing schemes, (ii) ...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Journal of Applied Economics
سال: 2019
ISSN: 1514-0326,1667-6726
DOI: 10.1080/15140326.2019.1583309