On the optimal mix of fiscal and monetary policy actions

We study optimized monetary and fiscal feedback policy rules. The setup is a conventional New Keynesian DSGE model calibrated to match data from the euro area. Our aim is to welfare rank alternative tax-spending policy instruments used for shock stabilization and/or debt consolidation when, at the same time, the monetary authorities follow a Taylor rule for the interest rate.

MoreLess

Year of publication:	2012-12
Authors:	Philippopoulos, Apostolis ; Varthalitis, Petros ; Vassilatos, Vanghelis
Institutions:	Bank of Greece
Subject:	Feedback policy rules \| New Keynesian

More details

Extent:	application/pdf
Series:	Working Papers.
Type of publication:	Book / Working Paper
Notes:	Number 150 5 pages long
Classification:	E6 - Macroeconomic Policy Formation, Macroeconomic Aspects of Public Finance, Macroeconomic Policy, and General Outlook ; F3 - International Finance ; H6 - National Budget, Deficit, and Debt
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010855040