The issue of fiscal-monetary coordination has received renewed focus in the wake of the COVID-19 crisis. The paper revisits this theme using a calibrated New Keynesian Dynamic Stochastic General Equilibrium (DSGE) model, that allows for unconventional monetary policy and monetary policy...

After the Global Financial Crisis, the role of uncertainty in driving optimal responses of consumers, firms and policymakers has garnered a renewed focus. In the face of uncertainty, economic agents awaiting information and clarity on future outcomes, may delay their economic decisions. Monetary...