This paper investigates the crowding out effect hypothesis in Morocco. Accordingly, the interest rate reacts to the change of the level of government spending. The Empirical results obtained from the impulse response analysis of the structural VAR model indicate the absence of such an effect....

This paper investigates the crowding out effect hypothesis in Morocco. Accordingly, the interest rate reacts to the change of the level of government spending. The Empirical results obtained from the impulse response analysis of the structural VAR model indicate the absence of such an effect....

This study examines how money and monetary policy have influenced output and inflation during the past decade in Israel by comparing two New Keynesian DSGE models. One is a baseline separable model (Galí, 2008) and the other assumes non-separable household preferences between consumption and...