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Measuring Aspects of Fiscal and Financial Policy

Buiter, Willem H. - 2010

The paper develops a forward-looking comprehensive accounting framework for the public sector.By integrating the public sector budget constraint forward in time the government's present value budget constraint (PVBC) is obtained. In addition to the familiar financial assets and liabilities,...

Persistent link: https://www.econbiz.de/10012760343

Crunch Time : Fiscal Crises and the Role of Monetary Policy

Greenlaw, David - 2013

Countries with high debt loads are vulnerable to an adverse feedback loop in which doubts by lenders lead to higher sovereign interest rates which in turn make the debt problems more severe. We analyze the recent experience of advanced economies using both econometric methods and case studies...

Persistent link: https://www.econbiz.de/10013077956

Deflation : Prevention and Cure

Buiter, Willem H. - 2022

consumption from the future to the present, by tilting the intertemporal terms of trade. An example is a cut in VAT today coupled …

Persistent link: https://www.econbiz.de/10013323987

Structural and Stabilization Aspects of Fiscal and Financial Policy in the Dependent Economy

Buiter, Willem H. - 2021

exchange rate, the sectoral allocation of production, the level and composition of private consumption, the current account (in …

Persistent link: https://www.econbiz.de/10013219715

Monetary and Fiscal Policy with Flexible Exchange Rates

Branson, William H.; Buiter, Willem H. - 2021

If price decisions are taken neither continuously nor in perfect synchronization, the process of adjustment of all prices to a new nominal level will imply temporary movements in relative prices. It might then well be that, to avoid these movements in relative prices, each price setter will want...

Persistent link: https://www.econbiz.de/10013222993

The Roles of Monetary, Financial and Fiscal Policy with Rational Expectations

Buiter, Willem H. - 2021

The setup of the paper is as follows: Section I presents a fairly standard, small deterministic macromodel with a number of classical features. All markets clear instantaneously, there is no money illusion, and perfect foresight rules. The effects of monetary, financial, and fiscal policies in...

Persistent link: https://www.econbiz.de/10013215717

Housing Wealth Isn't Wealth

Buiter, Willem H. - 2010

fundamental value of the house they own exceeds the present discounted value of their planned future consumption of housing … is no pure wealth effect on consumption from a change in house prices if this represents a change in fundamental value …. There is a pure wealth effect on consumption from a change in house prices if this reflects a change in the speculative …

Persistent link: https://www.econbiz.de/10012758559

The Role of Economic Policy after the New Classical Macroeconomics

Buiter, Willem H. - 2010

The paper considers the implications of the rational expectations New Classical Macroeconomics revolution for the 'rules versus discretion' debate. The following issues are covered: 1) The ineffectiveness of anticipated stabilization policy, 2) Non-clausal models and rational expectations, 3)...

Persistent link: https://www.econbiz.de/10012760072

The Role of Economic Policy after the New Classical Macroeconomics

Buiter, Willem H. - 2010

Persistent link: https://www.econbiz.de/10012763179

The Role of Economic Policy after the New Classical Macroeconomics

Buiter, Willem H. - 2012

The paper considers the implications of the rational expectations - New Classical Macroeconomics revolution for the "rules versus discretion" debate. The following issues are covered 1) The ineffectiveness of anticipated stabilization policy, 2) Non-causal models and rational expectations, 3)...

Persistent link: https://www.econbiz.de/10013104026

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