Search Results - subject_exact:"Discretionary policy"

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The EU fiscal framework and national fiscal rules : effects on budget balance dynamics

Lehtimäki, Jonne; Krämer, Robert - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015654446

Commitment issues : does the Fed have an inflation incentive to commit?

Scott, C. Patrick - 2024

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015437659

Ageing costs, public debt sustainability and EU fiscal rules

Gökten, Meryem; Heimberger, Philipp - 2026

This paper examines the role of ageing costs and the underlying assumptions in the reformed EU fiscal rules. To comply with these rules, governments facing rising ageing costs over the decade that follows a multi-year adjustment period must pre-emptively implement fiscal consolidation measures...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015654499

Efficiency at a cost : how a fiscal rule on disbursement timelines shifted public investment toward repairs

Athiphat Muthitacharoen; Phatarakorn Thongsathit; … - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015563847

The political economy of non-compliance with the golden rule of public finance

Uchida, Yuki; Ono, Tetsuo - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015610944

Distance matters : geographical proximity and fiscal rules enforcement

Christofzik, Désirée I.; Märtz, Oliver - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015671935

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Distance matters : geographical proximity and fiscal rules enforcement

Christofzik, Désirée I.; Märtz, Oliver - 2026

Book / Working Paper

Lockdown Policy Rules with a Hospital Capacity Constraint

Li, Hongtao; Nakata, Taisuke; Sakamoto, Hiroki; Uneya, … - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015611414

Global fragmentation, fiscal policy, and economic growth : a cross-country analysis

Uddin, Mohammed Gazi Salah; Le, Anh H.; Yago, Naoki; … - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015611635

Rules vs. discretion and the role of the central bank

El-Shagi, Makram; Gerth, Florian; Philemon, Paul Lukuliko - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015613464

The perils of narrowing fiscal spaces

Kase, Hanno; Melosi, Leonardo; Rast, Sebastian; … - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015613761

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The perils of narrowing fiscal spaces

Kase, Hanno; Melosi, Leonardo; Rast, Sebastian; … - 2026

Book / Working Paper

Dynamic effects of fiscal rules : do initial conditions Matter?

Fatás, Antonio; Gootjes, Bram; Mawejje, Joseph - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015580402

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Dynamic effects of fiscal rules : do initial conditions matter?

Fatás, Antonio; Gootjes, Bram; Mawejje, Joseph - 2025

Book / Working Paper

Monetary policy and supply-side turnover

Adam, Klaus; Weber, Henning - 2026

The introduction of a firm or product life cycle into New Keynesian frameworks fundamentally alters the design of optimal monetary policy. Economic welfare and the Phillips curve then depend on the gap between inflation and a time-varying inflation target that arises endogenously from turnover....

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015605574

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Monetary policy and supply-side turnover

Adam, Klaus; Weber, Henning - 2026

Book / Working Paper

From fiscal rules to fiscal traffic lights : rethinking the UK fiscal framework

Zaranko, Ben - 2026

The central contention of this report is that the UK fiscal framework has some desirable features but is not delivering good outcomes. We are in a bad equilibrium. The UK's fiscal framework is based around a set of pass-fail, numerical fiscal rules. The fiscal debate is overly fixated on the...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015606096

Public financing under balanced budget rules

Deng, Minjie; Liu, Chang - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015414582

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Public financing under balanced budget rules

Deng, Minjie; Liu, Chang - 2026

Book / Working Paper

Public financing under balanced budget rules

Deng, Minjie; Liu, Chang - 2024

Book / Working Paper

Public Financing Under Balanced Budget Rules

Deng, Minjie; Liu, Chang - 2022

Book / Working Paper

Fiscal policies are not all alike : composition effects, regime switching and uncertainty

Creel, Jérôme; Ionta, Serena; Traficante, Guido - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015619795

Upstream gas portfolio optimization under fiscal rules and uncertainty : a systematic review and bibliometric mapping

Naikosou, Marcelino Freitas; Adityawarman; Guterres, … - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015620653

Optimal supermajority threshold for suspending fiscal rule

Arawatari, Ryo; Ono, Tetsuo - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015628403

Point break : when fiscal rules turn pro-cyclical$devidence from debt thresholds in the European Union

Carnazza, Giovanni; Tomasone, Francesco - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015638013

On the unintended consequence of fiscal rules : evidence from fiscal expenditures

Arezki, Rabah; Graziosi, Grégoire Rota; Le Van Dao - 2026

This paper documents the unintended consequence of fiscal rules in the form of tax expenditures using both theory and data. We first introduce a simple fiscal model where the government has time-inconsistent preferences with a present bias toward public spending in line with Halac and Yared...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015656663

Natural disasters and fiscal procyclicality

Andrián, Leandro; Galindo Andrade, Arturo José; … - 2026

This paper examines how climate-related natural disasters influence the cyclical stance of fiscal policy across 148 countries between 1980 and 2023. Using a dynamic panel System-GMM framework, we document that while fiscal policy has become increasingly countercyclical in many economies, extreme...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015656696

A consideration of fiscal targetry

Chadha, Jagjit - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015652481

Double inertia, Taylor rules, and monetary policy gradualism

Crawley, Edmund; Goodwin, William; Jacobson, Margaret M.; … - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015653234

Structural persistence of Brazil's inflation rate in times of fiscal bubbles

Marques, André de Mattos - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015633256

Expansionary fiscal rules under sovereign risk

Esquivel, Carlos; Samano, Agustin - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015574597

Do fiscal rules undermine public investments? : a review of empirical evidence

Blesse, Sebastian; Dörr, Luisa; Dorn, Florian; Lay, Max - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015670970

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Do fiscal rules undermine public investments? : a review of empirical evidence

Blesse, Sebastian; Dorn, Florian; Lay, Max - 2023

Book / Working Paper

Do Fiscal Rules Undermine Public Investments? A Review of Empirical Evidence

Blesse, Sebastian; Dorn, Florian; Lay, Max - 2023

Book / Working Paper

Trading budget deficits for public investment : optimal deficit rules for present-biased governments

Bergmann, Tobias; Moretti, Nikolaj - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015672348

Rules alone won't do : empirical evidence on sanction mechanisms of fiscal rules and political budget cycles

Mair, Lukas; Mosler, Martin - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015671013

Boosting public spending for the twin transition under the new EU fiscal rules : a proposal

Heimberger, Philipp - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015671799

Implications of inflation forecast targeting for fiscal policy

Enders, Zeno; Oberbrinkmann, Sophia - 2026

Many central banks, such as the ECB, explicitly tie monetary policy decisions to medium-term inflation forecasts. Standard New Keynesian models, however, typically abstract from this feature. This paper studies equilibrium determinacy in a New Keynesian model in which monetary policy targets...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016089632

Monetary-fiscal policy interactions in public debt consolidation : the role of fiscal rules and inflation targeting

Zhang, Yunhan; Liu, Zhixin; Jin, Hao - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015580375

The Federal Government's Discretionary Spending

Dynan, Karen E.; Elmendorf, Douglas W.; Gullo, Theresa - 2026

This paper examines federal discretionary spending, including its place in the overall budget, its composition, and the economic and political forces shaping its size. Both defense and nondefense discretionary spending show no trend relative to national output over the past three decades,...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015654021

The efficacy of monetary and fiscal policies on economic growth : evidence from Thailand

Pathairat Pastpipatkul; Htwe Ko - 2025

This study empirically explores the dynamic effect of MP and FP on the economic growth of Thailand from Q1:2003 to Q2:2024. In this study, data analysis was conducted using an advanced sequence of the econometric modeling approach to guarantee that the estimated results were more consistent and...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015206799

Fiscal rules and sovereign default

Alfaro, Laura; Kanczuk, Fabio - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015559953

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Fiscal rules and sovereign default

Alfaro, Laura; Kanczuk, Fabio - 2017

Book / Working Paper

Fiscal rules and sovereign default

Alfaro, Laura; Kanczuk, Fabio - 2016

Book / Working Paper

Fiscal Rules and Sovereign Default

Alfaro, Laura - 2017

Book / Working Paper

Fiscal Rules and Sovereign Default

Alfaro, Laura - 2017

Book / Working Paper

Monetary rules, financial stability and welfare in a non-Ricardian framework

Adame-Espinosa, Francisco - 2025

This paper studies the implications for optimal monetary policy associated to the wealth effects induced by stock-price dynamics within a non-Ricardian framework. We use a new Keynesian model incorporating households with perpetual youth to study whether a monetary rule responding to asset price...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015549033

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Monetary rules, financial stability and welfare in a non-Ricardian framework

Adame Espinosa, Francisco - 2023

Book / Working Paper

Sovereign risk shocks and fiscal rules

Eyquem, Aurélien; Poilly, Céline; Schwegler, Guillaume - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016061000

Dynamic Effects of Fiscal Rules

Fatás, Antonio; Gootjes, Bram; Mawejje, Joseph - 2025

Fiscal rules have been shown to support fiscal discipline by improving government budget balances and restraining the growth of debt. However, questions remain about what enhances their effectiveness and how certain conditions help to build the credibility needed for their survival and success....

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015372344

The perils of technocratic power : central bank discretion and the end of bretton woods revisited

Sahasrabuddhe, Aditi; Seddon, Jack - 2025

Recent crises have cast doubt on the legitimacy of technocratic power, yet its role in global economic governance remains poorly understood. Revisiting the collapse of Bretton Woods, we propose a dynamic theory of global monetary governance to explain how expanding central bank discretion can...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015373779

The taylor rule : did the fed use discretion instead?

Wickens, Michael R. - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015640619

Fiscal Populism and Monetary Policy Rules

Jácome, Luis Ignacio; Magud, Nicolas; Pienknagura, Samuel - 2026

We explore the historical link between populist regimes, fiscal monetization, and inflation, and how these links affect monetary policy in the 21st century. Using data for a large set of advanced economies and emerging markets since 1960, we show that, historically, left-leaning populist regimes...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016094138

The impact of federal fiscal rules on debt : insights from the European Union countries

Park, Sungho; Kim, Sewon - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015374318

Fiscal stance, fiscal rules, and public debt dynamics in the United States

Abubakar, Attahir Babaji; Mamman, Suleiman O.; Iliyasu, … - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015374323

National elections and sub-national electoral cycles : do strong fiscal rules matter in Europe?

Lopez Villavicencio, Antonia; Oriola, Hugo - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015332266

Monetary-fiscal policy mix and inflation in Korea

Chon, Sora; Kim, Wongi; Shim, Seri - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015334855

Monetary policy adjustments in Mexico during COVID-19 : fear of floating and macroeconomic volatility

López-Mares, Jesús Eduardo; Ocegueda Hernández, Juan … - 2025

The aim of this paper is to investigate how the central bank of Mexico - a prototypical emerging market economy (EME) - adjusted its reaction coefficients according to an estimated Taylor-type rule in response to the COVID-19 pandemic and the posterior surge in inflation. To do so, we estimate a...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015338857

Fiscal requirements for price stability when households are not Ricardian

Dupraz, Stéphane; Rogantini Picco, Anna - 2025

Are restrictions on fiscal policy necessary for monetary policy to be able to deliver price stability? When households are Ricardian, the net present value of future fiscal surpluses needs to equate the real value of government debt absent inflation. We show that when households are not...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015339693

Political economy of non-compliance with the golden rule of public finance

Uchida, Yuki; Ono, Tetsuo - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015187363

Trading deficits for investment : optimal deficit rules for present-biased governments

Bergmann, Tobias; Moretti, Nikolaj - 2025

We develop a simple two-period principal-agent model in which a present-biased government, the agent, chooses public investment levels given a deficit rule imposed by the principal. The principal sets a deficit cap to curb current debt-financed consumption. In doing so, it also reduces long-term...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015190377

Playing by the Taylor rules or sticking to Friedman's policy : a new approach to monetary policy identification

Arefeva, Alina; Arefyev, Nikolay - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015193342

Beyond one-size-fits-all : designing monetary policy for diverse models and frequencies

Dück, Alexander; Verona, Fabio - 2025

We offer a contribution to the analysis of optimal monetary policy. The standard approach to determine what policy rule a central bank should follow is to take a single structural model and minimize the unconditional volatilities of inflation and real activity. In this paper, we propose monetary...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015181886

The role of fiscal rules for spending multipliers in European Union countries

Sznajderska, Anna; Torój, Andrzej; Chmura, Rafał - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015359827