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Guénette, Justin Damien; Kose, M. Ayhan; Sugawara, Naotaka - 2022

Global growth prospects have deteriorated significantly since the beginning of the year, raising the specter of global recession. This paper relies on insights gleaned from previous global recessions to analyze the recent evolution of economic activity and policies and presents plausible...

Persistent link: https://www.econbiz.de/10014541046

Average inflation targeting and the interest rate lower bound

Budianto, Flora; Nakata, Taisuke; Schmidt, Sebastian - 2020

long, averaging window can attain most of the welfare gain from PLT. Under boundedly-rational expectations, if cognitive …

Persistent link: https://www.econbiz.de/10012206238

The Housing Crash Recession and the Case for a Third Stimulus

Baker, Dean - Center for Economic and Policy Research (CEPR) - 2009

This paper makes the case for a third stimulus package to in the face of economic indicators signaling that the economy is in a deeper downturn than was expected based on previous projections. Specifically, the report calls for an employer tax-credit for extending health care coverage and...

Persistent link: https://www.econbiz.de/10004999571

Alternatives to Fiscal Austerity in Spain

Weisbrot, Mark; Montecino, Juan Antonio - Center for Economic and Policy Research (CEPR) - 2010

This paper looks at the planned austerity measures in Spain, the rationale for the spending cuts and tax increases, likely outcomes for future debt-to-GDP ratios, and the probable results of alternative policies.

Persistent link: https://www.econbiz.de/10008560250

Did the crisis change it all? : evidence from monetary and fiscal policy

Mitreska, Ana; Vojnovic, Maja Kadievska; Georgievska, Ljupka - Narodna Banka na Republika Makedonija / Direkcija za … - 2010

The recent financial and economic crisis has triggered bold and diverse policy responses to prevent further, sharper and prolonged adverse effects to the financial and the real sector. The measures for alleviating the cycle were a feature both of the advanced and the emerging and developing...

Persistent link: https://www.econbiz.de/10011622637

A look back at 25 years of the ECB SPF

Allayioti, Anastasia; Arioli, Rodolfo; Bates, Colm; … - 2024

economic expectations and forecasts, but also valuable insights on key topical issues and on economic risks and uncertainties … unemployment rate - the track record of the ECB SPF in forecasting has been broadly comparable to that of the Eurosystem. In …) underlying SPF expectations and an analysis and assessment of measures of macroeconomic uncertainty. Technical assumptions are …

Persistent link: https://www.econbiz.de/10015199484

Deglobalisation post COVID-19 could spell trouble for the European Monetary Union

Bertasiute, Akvile; Massaro, Domenico; Weber, Matthias - 2020

Less economic integration would make it difficult for the ECB to stabilise the euro area economies. Symmetric monetary policy cannot do anything about this and individual countries would need to use fiscal policy tools

Persistent link: https://www.econbiz.de/10012387253

Reinstating fiscal policy for normal times : public investment and public jobs programmes

Skidelsky, Robert Jacob Alexander; Gasperin, Simone - In: PSL quarterly review 74 (2021) 296, pp. 3-24

This paper upholds the classical Keynesian position that a laissez-faire market economy lacks a spontaneous tendency to full employment. Focusing on the UK case, it argues that monetary policy could not prevent the economic collapse of 2008-9 or achieve full recovery from the Great Recession...

Persistent link: https://www.econbiz.de/10013175036

MMT and policy assignment in an open economy context : simplicity is useful, oversimpliflflication not so much

Razmi, Arslan - 2022

takes into account: (1) the role of expectations in the foreign exchange market and the feedback mechanisms between these …, this is true even in the absence of rational forward-looking expectations or sovereign foreign indebtedness. …

Persistent link: https://www.econbiz.de/10012819441

Seven replies to the critiques of Modern Money Theory

Tymoigne, Éric - 2021

Modern Money Theory (MMT) has generated considerable scrutiny and discussions over the past decade. While it has gained some acceptance in the financial sector and among some politicians, it has come under strong criticisms from all sides of the academic spectrum and from conservative political...

Persistent link: https://www.econbiz.de/10012795769