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Expectations-driven liquidity traps : implications for monetary and fiscal policy
Nakata, Taisuke; Schmidt, Sebastian - 2019 - This draft: June 2019
We study optimal monetary and fiscal policy in a New Keynesian model where occasional declines in agents' confidence give rise to persistent liquidity trap episodes. There is no straightforward recipe for enhancing welfare in this economy. Raising the inflation target or appointing an...
Persistent link: https://www.econbiz.de/10012181947
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Recovery of 1933
Jacobson, Margaret M.; Leeper, Eric M.; Preston, Bruce - 2023
Persistent link: https://www.econbiz.de/10014284271
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Price level determinacy and monetary policy under a balanced-budget requirement
Schmitt-Grohé, Stephanie; Uribe, Martín - 1997
Persistent link: https://www.econbiz.de/10000994127
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Pricing systemic crises : monetary and fiscal policy when savers are uncertain
Lehnert, Andreas; Passmore, Stuart Wayne - 1999
Persistent link: https://www.econbiz.de/10001411414
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Monetary-fiscal policy interactions : interdependent policy rule coefficients
Gonzalez-Astudillo, Manuel - 2013
Persistent link: https://www.econbiz.de/10010431722
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Optimal fiscal and monetary policy with occasionally binding zero bound constraints
Nakata, Taisuke - 2013
Persistent link: https://www.econbiz.de/10010431740
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Fiscal multipliers at the zero lower bound : the role of policy inertia
Hills, Timothy S.; Nakata, Taisuke - 2014
Persistent link: https://www.econbiz.de/10011286155
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Macroeconomic policy games
Bodenstein, Martin; Guerrieri, Luca; LaBriola, Joe - 2014
Persistent link: https://www.econbiz.de/10011286207
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Expectations formation and the effectiveness of strategies for limiting the consequences of the zero bound on interest rates
Reifschneider, David (contributor);  … - 2005
Persistent link: https://www.econbiz.de/10003314543