negative shock. The current low interest rate environment limits the tools the central bank can use to stabilize the economy … controlled rise of inflation to wear away a targeted fraction of debt. Under this coordinated strategy, the fiscal authority … increase in inflation to accommodate the emergency budget. In our model, the coordinated strategy enhances the efficacy of the …

, increased inflation and output due to higher government spending during a recession speed up the return of the policy rate to …

. The study captures the period following the adoption of inflation targeting by the National Bank of Romania, emphasising … restrictive approach to counter inflation, causing high interest rates that tightened credit access. This monetary-fiscal policy …

following the slump points to the accommodation of the shock by the ECB, concurrent with the implementation of the Quantitative …

following the slump points to the accommodation of the shock by the ECB, concurrent with the implementation of the Quantitative …