نتایج جستجو برای: panel svar opec countries discretionary fiscal policy
تعداد نتایج: 572760 فیلتر نتایج به سال:
This paper investigates changes in the conduct of U.S. monetary policy. Monetary policy is modeled in the context of the Bernanke-Mihov (1998) structural VAR (SVAR) extended to allow explicitly for the Fed’s forward looking behavior. This is achieved by including its realtime forecasts on in‡ation and unemployment (the “Greenbook” forecasts). Stability tests that exploit the SVAR identifying re...
This paper builds a structural VARMA (SVARMA) model for investigating Canadian monetary policy. Despite the support for a VARMA model for monetary policy analysis, the traditional VAR and SVAR models have predominantly been used in the literature mainly due to difficulties associated with the identification and estimation of such a model. Using the scalar component model (SCM) proposed by Athan...
Fiscal considerations and commitment drive the choice of monetary policy regime, especially for developing countries. I survey the fiscal foundations of price determination, and study the maximize-inflation-tax, interest rate rule, peg and currency board, and dollarization regime. Since nominal debt acts like equity for the government, the dollarization question is like the question whether a f...
Abstract Advanced and emerging economies are becoming more interdependent with rapid pace of globalization capital markets technological innovations in recent years. We examine whether technology monetary policy shocks get transmitted between advanced market to what extent they generate complementary or competitive effects. Given the globally integrated nature markets, we uncover a transmission...
Abstract This paper examines the impact of budgetary institutions on public finances in European Union basis a critical survey relevant theoretical and empirical literature. In general, authors find that fiscal (namely rules) have successfully contributed to greater sustainability, reduced procyclicality policies within EU, increased national ownership rules by strengthening frameworks. A react...
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 studies the effects of monetary policy rules in a monetary union. The focus of the analysis is on the interaction between the fiscal policy of member countries (regions) and the central monetary authority. When capital markets are integrated, the fiscal policy of one country will influence equilibrium wages and interest rates. Thus there are fiscal spillovers within a federation. The...
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