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Public finance reform in Hungary: light at the end of the tunnel?
Jankovics, László - 2008
The dominance of electoral considerations in determining budgetary outcomes has been evident in Hungary over the last 15 years, with government deficits reaching their highest levels in election years (1994, 1998, 2002 and 2006). This deterioration of public finances has largely been possible...
Persistent link: https://www.econbiz.de/10009641089
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Policy mix and debt sustainability : evidence from fiscal policy rules
Claeys, Peter - 2005
This paper characterises rules-based fiscal policy setting. Basically, we translate a standard monetary policy rule into a simple fiscal policy rule. We then infer on fiscal policymakers' reaction coefficients by testing the rule with GMM. Interaction is also tested directly by the inclusion of...
Persistent link: https://www.econbiz.de/10010261142
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Macroeconomic modelling of monetary policy
Klaeffling, Matt - 2003
This paper proposes a new paradigm for the analysis of monetary policy. From an econometric point of view this new approach is just as easy to implement as reduced form analysis, but is robust to the Lucas critique. It requires no explicit prior theory and yet it encompasses all standard DSGE...
Persistent link: https://www.econbiz.de/10009635920
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Poland's policy mix: fiscal or monetary leadership?
Darnaut, Nathalie; Kutos, Paul - 2005
Persistent link: https://www.econbiz.de/10009686312
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How does the ECB allot liquidity in its weekly main refinancing operations?
Ejerskov, Steen; Moss, Clara Martin; Stracca, Livio - 2003
This paper provides a simple weekly model of the regular supply of liquidity in the euro area, with a view to … understanding the functioning of the euro area money market. The main result of the analysis is that liquidity has normally been … deviations of the overnight rate from the main refinancing rate. Moreover the paper finds that liquidity has affected the …
Persistent link: https://www.econbiz.de/10009635957
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ECFIN Economic Briefs
Europäische Kommission / Generaldirektion Wirtschaft … - 2009
Persistent link: https://www.econbiz.de/10011291901
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Credit risk transfers and the macroeconomy
Faia, Ester - 2010
credit risk transfer. The possibility of transferring credit reduces the impact of liquidity shocks on bank balance sheets …
Persistent link: https://www.econbiz.de/10011605302
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Modeling Monetary Policy
Reynard, Samuel; Schabert, Andreas - 2009
conditions, i.e. the varying liquidity value ofeligible assets and the associated risk. This induces a liquiditypremium, which …
Persistent link: https://www.econbiz.de/10010325945
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States, Banks and the Financing of the Economy: Monetary Policy and Regulatory Perspectives
Balling, Morten; Jackson, Patricia; Gnan, Ernest; … - 2013
On 5-6 September 2012 SUERF held its 30th Colloquium “States, Banks, and the Financing of the Economy” at the University of Zürich, Switzerland. The papers included in this SUERF Study are based on contributions to the Colloquium. All the papers in this publication discuss from different...
Persistent link: https://www.econbiz.de/10011689959