This paper provides a comparative assessment of the e¤ectiveness of macroprudential policies in 12 Asia-Paci…c economies, using comprehensive databases of domestic macroprudential policies and capital ‡ow management (CFM) policies. We …nd that banking sector CFM polices and bond market CFM policies are effective in slowing down banking in‡ows and bond in‡ows, respectively. We also …nd some evid...

A Farmer-type Keynesian model is constructed to explore and exposit Keynesian ideas. The modeling innovation is to integrate Farmer’s approach with monetary exchange and to derive optimal monetary and fiscal policies. Two approaches are taken to optimal policy an approach in the spirit of New Keynesian sticky-wage-and-price models, and an a "sophisticated policy" approach. Optimal policies typi...

This paper focuses on internal and external factors, which influence the inflation rate in developing countries. A monetary model of inflation rate, capable of incorporating both monetary and fiscal policies as well as other internal and external factors, was developed and tested on Iranian data. It was found that, over the long run, a higher exchange rate leads to a higher price and that the f...

This paper reports on the findings of Evans, Guse, and Honkapohja (2007) concerning the global economic dynamics under learning in a New Keynesian model in which the interest rate rule is subject to the zero lower bound. Under normal monetary and fiscal policy, the intended steady state is locally but not globally stable. Large pessimistic shocks to expectations can lead to deflationary spirals...

This paper reconsiders the role of separation principles between monetary and fiscal policies which in ‘normal’ times are seen as being conducive to stable outcomes of policymaking. Such principles are discussed for both ordinary nation states (i.e. ‘single economies’, characterized by one monetary and one fiscal policy) and ‘monetary unions’ (characterized by one monetary and many fiscal polic...

In this research, non-linear inflationary dynamics based on the concept of missing money is studied using the threshold autoregressive models based on seasonal data of the time interval (1990:04-2016:07) for the economy of Iran. The finding of the research shows that simple and Divisia liquidity growth variables are determined as threshold variables, and inflation reacts to changes in the growt...