the sustained use of monetary and fiscal policies inincreasing high public and private debt environments further … effectiveness ofmonetary and fiscal policies is often questioned. Of crucial importance today, increasingpublic and private debt …Macroeconomic stabilization policies are implemented to smooth the real effects ofperiodically recurring business …

. This shows that under low levels of CBI, the fiscal authority will use both the fiscal and monetary instruments … simultaneously, whereas in the case of high CBI, the fiscal authority will not be able to use the monetary instrument and only the … caused because of the existence of fiscal dominance. This paper aims to better identify the link between fiscal dominance and …

growth of a cohort of new firms to evaluate alternative policies. We find that a loan subsidy that reduces the excess cost of …. Our findings imply that, while policies aiming to stimulate current employment are important, in order to ensure also a …

The dissertation consists of three essays. Chapter II examines the asymmetriceffects of monetary policy on stock prices … by using an unobserved components modelwith Markov-switching. My results show that monetary policy has negative effects … state, a contractionary monetary policy significantlyreduces stock prices. When the transitory component is in the high …

This paper provides an empirical analysis of stock market reactions to monetary policy surprises. Its principal …

monetary policy rules thatrespond to speculative bubbles and those that do not. The model consists of twononlinear speculative …