This paper studies price stability and debt sustainability when the real rate exceeds trend growth (r > g) in a New … Keynesian model with endogenous technology growth through R&D. Under debt-stabilizing ("passive") fiscal policy the Taylor … inflation in order to stabilize the expectations of households, firms and innovators. Endogenous growth provides a self …

This paper studies fiscal policy in a New Keynesian DSGE model with endogenous technology growth in which scarring can …&D and technology adoption, thus depressing the long-run trend. Fiscal policy has long-term effects under endogenous growth … introduce fiscal growth policies in this environment which in the short run raise aggregate demand and simultaneously support …

We estimate the causal effects of macroprudential policies on the entire distribution of GDP growth for advanced … has near-zero effects on the centre of the GDP-growth distribution, tighter policy brings benefits by reducing the … variance of future growth, significantly boosting the left tail while simultaneously reducing the right. Assessing a range of …

and statistically significant positive effects on GDP growth, bank lending and firm investment. …

be more restrained in their inflation responses when their aim is to stabilize inflation and output growth at specific …

analysed. According to our results, the asset purchase programmes implemented during the crisis have increased the annual GDP … growth by approximate 2 percentage points in 2020-2021 and inflation by 0.5 percentage points. The longer-term refinancing …