Similar Search Results

Quadrilemma not trilemma : fiscal policy matters

Jin, Hao - 2016

Persistent link: https://www.econbiz.de/10011688323

Chafwehé, Boris; Oikonomou, Rigas; Priftis, Romanos; … - 2018

commiting to keep interest rates low at the exit of the liquidity trap, to stabilize inflation today. 2. From debt … interest rates. Liquidity trap (LT) episodes are longer, however, the impact of interest rate policy commitments on inflation …

Persistent link: https://www.econbiz.de/10011920684

Secular stagnation : insights from a new Keynesian model with hysteresis effects

Aarle, Bas van - 2016

To analyse the most important aspects of the Secular Stagnation hypothesis, this paper considers the effects of hysteresis in potential output in a New-Keynesian model that is extended with endogenous potential output. To do so, a number of simulations of relevant scenarios is undertaken. It is...

Persistent link: https://www.econbiz.de/10011444072

The new consensus from a traditional Keynesian and post-Keynesian perspective : a worthwhile foundation for research or just a waste of time?

Dullien, Sebastian - 2009

einer aktivistischen Geldpolitik), dass aber die zugrundeliegenden Mechanismen in deutlichem Widerspruch zu einem …

Persistent link: https://www.econbiz.de/10009304904

Fiscal multipliers and the choice of zero lower bound modeling

Siemsen, Thomas; Watzka, Sebastian - 2013

In this note we elaborate on the effect of the modeling choice of the zero lower bound on the size of the fiscal multiplier. To this end we contrast two different ways to implement the ZLB in a New Keynesian model: the ZLB modeled as an endogenous central bank reaction to a contractionary demand...

Persistent link: https://www.econbiz.de/10009772911

Exit strategies

Angeloni, Ignazio; Faia, Ester; Winkler, Roland - 2014 - First draft: August 2010. This draft: April 2014

We study alternative scenarios for exiting the post-crisis fiscal and monetary accommodation using a macromodel where banks choose their capital structure and are subject to runs. Under a Taylor rule, the post-crisis interest rate hits the zero lower bound (ZLB) and remains there for several...

Persistent link: https://www.econbiz.de/10010354007

Dealing with a liquidity trap when government debt matters : optimal time-consistent monetary and fiscal policy

Burgert, Matthias; Schmidt, Sebastian - 2013

a liquidity trap? To provide an answer, we employ a small stochastic New Keynesian model with a zero bound on nominal …-term nominal interest rate and debt-financed government spending. The optimal policy response to a liquidity trap critically … expectations that helps to dampen the fall in output and inflation at the outset of the liquidity trap. …

Persistent link: https://www.econbiz.de/10010400894

Liquidity traps and expectation dynamics : fiscal stimulus or fiscal austerity?

Benhabib, Jess; Evans, George W.; Honkapohja, Seppo - 2014

Persistent link: https://www.econbiz.de/10010402622

Fiscal and monetary policies in complex evolving economies

Dosi, Giovanni; Fagiolo, Giorgio; Napoletano, Mauro; … - 2014

In this paper we explore the effects of alternative combinations of fiscal and monetary policies under different income distribution regimes. In particular, we aim at evaluating fiscal rules in economies subject to banking crises and deep recessions. We do so using an agent-based model populated...

Persistent link: https://www.econbiz.de/10010403730

Fiscal multiplier in a credit-constrained new Keynesian economy

Karatas, Engin; Sin, Jasmin - 2012

Persistent link: https://www.econbiz.de/10010219865