The paper evaluates the distributional effects of conventional and unconventional monetary policies for the USA. The distributional effects are evaluated for the overall impact on the income distribution, using Gini index. The paper also assesses the effects of conventional and unconventional monetary policies on the different parts of income distribution, employing corresponding percentile rat...

The monetary policy in the frame of monetary transaction through stocks market affects the stocks’ price that these prices also affect the economy with impacting consuming and investing expenses. In another word, based on the importance of monetary part in commercial banks, the effect of these policies on bank stocks has a great importance that is studied in his project. For this purpose, the d...

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...

Very diverse responses of monetary and fiscal policies have been observed around the world in the post global financial crisis period of 2010-2014. Our paper explores (i) whether the strategic interaction between the central bank and government can explain this diversity, and (ii) what lessons about the institutional design of the two policies can be learnt from it. Particular attention is paid...

In developing countries, weak institutional quality can increase the probability of applying discretionary policies and can have a great impact on their double-digit inflation. Surico (2008) calculated inflation bias, but he considered just monetary policy and he did not pay attention to the institutions. Therefore, we design a model which considers the discretion in monetary and fiscal policie...

inflation forecasting has been one of the requirements for the implementation of monetary policy in countries which their monetary authorities are pursuing inflation targeting regime. however, owing to central bank independence in one hand and as well as the lagged effects of monetary policies on inflation in the other, the monetary authorities should have the sound perspective about the future...