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Macroeconomic Policy and Economic Performance

de Lima, Pedro - 2003

This paper analyses the major changes in both monetary and fiscal policy that have taken place over the past two decades and, within the limits of the existing empirical research, evaluates the overall costs and benefits for the OECD economies. The general findings for monetary policy are that,...

Persistent link: https://www.econbiz.de/10012444501

Iceland: Challenging Times for Monetary and Fiscal Policies

de Michelis, Andrea - 2009

Monetary and fiscal policies face huge challenges: the banking sector has collapsed; the economy is in the midst of a … the Icelandic economy and lay out the foundations for a sustainable recovery. The key recommendations are to seek entry in …

Persistent link: https://www.econbiz.de/10012445717

Growth-Promoting Policies and Macroeconomic Stability

Sutherland, Douglas; Hoeller, Peter - 2013

Policy reforms aimed at boosting long-run growth often have side effects – positive or negative – on an economy … reconsideration of the role growth-promoting policies play in shaping the vulnerability and resilience of an economy to macroeconomic …

Persistent link: https://www.econbiz.de/10014151193

Brazil's Fiscal Stance during 1995-2005 : The Effect of Indebtedness on Fiscal Policy Over the Business Cycle

de Mello, Luiz - 2006

Brazil's fiscal adjustment since the floating of the real in 1999 has been impressive, even in periods of lacklustre growth. This suggests a remarkable fiscal effort to ensure public debt sustainability. To better gauge the magnitude of this adjustment effort, this paper applies the methodology...

Persistent link: https://www.econbiz.de/10012444388

The Effects of Fiscal Policy on Output : A DSGE Analysis

Furceri, Davide - 2010

This paper examines the effects of fiscal policy on output in the euro area. For this purpose we develop a DSGE Fiscal Model with endogenous government bond yields to assess the impact of different fiscal policy shocks on output, its components and on government debt. The simulations suggest...

Persistent link: https://www.econbiz.de/10012446129

Interactions Between Monetary and Fiscal Policy : How Monetary Conditions Affect Fiscal Consolidation

Ahrend, Rudiger - 2006

This paper assesses how and in what circumstances, fiscal consolidations are affected by monetary conditions, using data covering 24 OECD countries over the past 25 years, Focusing on fiscal consolidation “episodes”, it is found that these tend to occur when large budget deficits threaten...

Persistent link: https://www.econbiz.de/10012444085

Policies to Improve Turkey's Resilience to Financial Market Shocks

Brook, Anne-Marie - 2006

economy and the steps that can be taken to improve macroeconomic resilience to shocks. This Working Paper relates to the 2006 …

Persistent link: https://www.econbiz.de/10012444342

Counter-cyclical Economic Policy

Sutherland, Douglas; Hoeller, Peter; Égert, Balázs; … - 2010

What changes are needed to make counter-cyclical economic policy more effective in the aftermath of the recent crisis? An important lesson from the severity of the recent recession is that policy in various areas will have to be more prudent during upswings and to build in greater safety margins...

Persistent link: https://www.econbiz.de/10012444497

A Golden Rule for Russia? How a Rule-Based Fiscal Policy Can Allow a Smooth Adjustment to the New Terms of Trade

Gianella, Christian - 2007

The Russian economy continues to grow strongly, buoyed by rising terms of trade, which, in turn, are supporting a boom … macroeconomic management. It first examines the impact of rising terms of trade on the domestic economy, particularly with respect … instrument for tackling this challenge. It therefore focuses on the potential role of a fiscal rule in insulating the economy and …

Persistent link: https://www.econbiz.de/10012445915

Israel: Monetary and Fiscal Policy

Moeser, Charlotte - 2010

Israel’s monetary policy framework is broadly sound. Inflation targeting was introduced in the early 1990s, and low single-digit inflation was established by the end of the decade. However, fast transmission from the exchange rate to inflation means the operational challenges differ somewhat...

Persistent link: https://www.econbiz.de/10012446133

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