Dynamics of Monetary-Fiscal Interaction under Learning

The interaction between monetary and fiscal policy and the associated uncertainty about this interaction have been put on center stage by the recent financial crisis and the associated recession. In our model agents learn about both fiscal and monetary policy rules via the Kalman Filter. In particular, we study how an economy populated with agents acting as econometricians reacts to discrete changes in the actual policy rules.

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Year of publication:	2014
Authors:	Hollmayr, Josef ; Matthes, Christian
Publisher:	Kiel und Hamburg : ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften, Leibniz-Informationszentrum Wirtschaft

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Series:	Beiträge zur Jahrestagung des Vereins für Socialpolitik 2014: Evidenzbasierte Wirtschaftspolitik - Session: Austerity ; D19-V1
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Conference Paper
Language:	English
Other identifiers:	820201545 [GVK] hdl:10419/100609 [Handle] RePEc:zbw:vfsc14:100609 [RePEc]
Classification:	E32 - Business Fluctuations; Cycles ; D83 - Search, Learning, Information and Knowledge ; E62 - Fiscal Policy; Public Expenditures, Investment, and Finance; Taxation
Source:	EconStor

Persistent link: https://www.econbiz.de/10010397010