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Short-term monitoring of fiscal policy discipline

Camba-Mendez, Gonzalo (contributor); Lamo, Ana (contributor) - 2002

Persistent link: https://www.econbiz.de/10001702787

Expectations-driven liquidity traps : implications for monetary and fiscal policy

Nakata, Taisuke; Schmidt, Sebastian - 2019

can give rise to persistent liquidity trap episodes. Unlike in the case of fundamental-driven liquidity traps, there is no …-driven liquidity traps. Raising the in ation target or appointing an in ation-conservative central banker improves in ation outcomes … sufficiently less concerned with government spending stabilization than society can eliminate expectations-driven liquidity traps …

Persistent link: https://www.econbiz.de/10012037377

Convex supply curves

Boehm, Christoph E.; Pandalai-Nayar, Nitya - 2020

We provide evidence that industries' supply curves are convex. To guide our empirical analysis, we develop a model, in which capacity constraints at the plant level generate convex supply curves at the industry level. The industry's capacity utilization rate is a sufficient statistic for the...

Persistent link: https://www.econbiz.de/10012271523

Dynamic fiscal limits and monetary-fiscal policy interactions

Battistini, Niccolò; Callegari, Giovanni; Zavalloni, Luca - 2019

This paper analyzes the impact of monetary policy on public debt sustainability through the lens of a general equilibrium model with fiscal limits. We find that the mere possibility of a binding ZLB may have detrimental effects on debt sustainability, as a kink in the Laffer curve induces a...

Persistent link: https://www.econbiz.de/10011997483

Tight money - tight credit : coordination failure in the conduct of monetary and financial policies

Carrillo, Julio A.; Mendoza, Enrique G.; Nuguer, Victoria; … - 2018

Quantitative analysis of a New Keynesian model with the Bernanke-Gertler accelerator and risk shocks shows that violations of Tinbergen's Rule and strategic interaction between policymaking authorities undermine significantly the effectiveness of monetary and financial policies. Separate...

Persistent link: https://www.econbiz.de/10011792182

Designing QE in a fiscally sound monetary union

Bletzinger, Tilman; Thadden, Leopold von - 2018

This paper develops a tractable model of a monetary union with a sound fiscal governance structure and shows how in such environment the design of monetary policy above and at the lower bound constraint on short-term interest rates can be linked to well-known findings from the literature dealing...

Persistent link: https://www.econbiz.de/10011856536

Credit risk transfers and the macroeconomy

Faia, Ester - 2010

credit risk transfer. The possibility of transferring credit reduces the impact of liquidity shocks on bank balance sheets … risk. - Credit risk transfer ; dual moral hazard ; monetary policy ; liquidity ; welfare …

Persistent link: https://www.econbiz.de/10008688526

Dual liquidity crises under alternative monetary frameworks : a financial accounts perspective

Bindseil, Ulrich; Winkler, Adalbert - 2012

Persistent link: https://www.econbiz.de/10009765962

Central bank liquidity provision, risk-taking and economic efficiency

Bindseil, Ulrich; Jabłecki, Juliusz - 2013

Persistent link: https://www.econbiz.de/10009766427

Central bank collateral, asset fire sales, regulation and liquidity

Bindseil, Ulrich - 2013

Persistent link: https://www.econbiz.de/10010210569

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