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We develop the theory of price-level determination in a range of models using both ad hoc policy rules and jointly optimal monetary and fiscal policies and discuss empirical issues that arise when trying to identify monetary–fiscal regime. The chapter concludes with directions in which...
Persistent link: https://www.econbiz.de/10014024282
Since Leeper's (1991, Journal of Monetary Economics 27, 129-147) seminal paper, an extensive literature has argued that if fiscal policy is passive, i.e., guarantees public debt stabilization irrespectively of the inflation path, monetary policy can independently be committed to inflation...
Persistent link: https://www.econbiz.de/10013102700
Since Leeper's (1991, Journal of Monetary Economics 27, 129-147) seminal paper, an extensive literature has argued that if fiscal policy is passive, i.e., guarantees public debt stabilization irrespectively of the inflation path, monetary policy can independently be committed to inflation...
Persistent link: https://www.econbiz.de/10013111099
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The implementation of economic reforms under new economic policies in India was associated with a paradigmatic shift in … the consequences of such policy measures in India, particularly during the period of the global recession. Not only did … India, this paper concludes that such monetarist policy measures have been responsible for stagnation, with a rise in price …
Persistent link: https://www.econbiz.de/10010385761
Migrants’ remittances are an important financial flow to their country of origin. Remittances sent by migrants reduce the level and severity of poverty in developing countries. Householders use this money received from migrants for their private consumption and their investments. This paper...
Persistent link: https://www.econbiz.de/10011793525