Patella, Valeria; Bouabdallah, Othman; Jacquinot, Pascal - 2022
switching to monetary dominance driven by central bank independence, fiscal backing and EMU convergence. The effective lower … 1950-2019, respectively) and estimate a Dynamic Stochastic General Equilibrium model where monetary/fiscal policy regimes …, deflation and explosive debt paths under monetary dominance. In Italy, a procyclical fiscal policy in downturns due to limited …