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Author : Oscar J. Arce
Publisher :
ISBN 13 :
Total Pages : 282 pages
Book Rating : 4.:/5 (94 download)
Download or read book Interactions between inflation, monetary and fiscal policy written by Oscar J. Arce and published by . This book was released on 2005 with total page 282 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Jean-Louis Combes
Publisher : International Monetary Fund
ISBN 13 : 1498378218
Total Pages : 36 pages
Book Rating : 4.4/5 (983 download)
Download or read book Inflation Targeting and Fiscal Rules written by Jean-Louis Combes and published by International Monetary Fund. This book was released on 2014-05-28 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper examines the joint impact of inflation targeting (IT) and fiscal rules (FR) on fiscal behavior and inflation in a broad panel of advanced and developing economies over the period 1990-2009. The main contribution of the paper is to show that, as suggested by the theoretical literature, interactions between FR and IT matter a great deal for policy outcomes. Specifically, the combination of FR and IT appears to deliver more disciplined macroeconomic policies than each of these institutions in isolation. In addition, the sequencing of the monetary and fiscal reforms plays a role: adopting FR before IT delivers stronger results than the reverse sequence.
Author : Michael Carlberg
Publisher : Springer Science & Business Media
ISBN 13 : 3642104762
Total Pages : 302 pages
Book Rating : 4.6/5 (421 download)
Download or read book Monetary and Fiscal Strategies in the World Economy written by Michael Carlberg and published by Springer Science & Business Media. This book was released on 2010-01-05 with total page 302 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book studies the strategic interactions between monetary and fiscal policies in the world economy. The world economy consists of two regions, say Europe and America. The policy makers are the central banks and the governments. The policy targets are low inflation, low unemployment, and low structural deficits. There are demand shocks, supply shocks, and mixed shocks. There are regional shocks and common shocks. This book develops a series of basic, intermediate, and more advanced models. Here the focus is on the Nash equilibrium. The key questions are: Given a shock, can policy interactions reduce the existing loss? And to what extent can they do so? Another topical issue is policy cooperation. To illustrate all of this there are a lot of numerical examples. The present book is part of a larger research project on European Monetary Union, see the references given at the back of the book. Some parts of this project were presented at the World Congress of the International Economic Association, at the International Conference on Macroeconomic Analysis, at the International Institute of Public Finance, and at the International Atlantic Economic Conference. Other parts were presented at the Macro Study Group of the German Economic Association, at the Annual Meeting of the Austrian Economic Association, at the Göttingen Workshop on International Economics, at the Halle Workshop on Monetary Economics, at the Research Seminar on Macroeconomics in Freiburg, at the Research Seminar on Economics in Kassel, and at the Passau Workshop on International Economics.
Author : Mr. Jiaqian Chen
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 47 pages
Book Rating : 4.4/5 (2 download)
Download or read book Effective Fiscal-Monetary Interactions in Severe Recessions written by Mr. Jiaqian Chen and published by International Monetary Fund. This book was released on 2022-09-02 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: The COVID-19 pandemic and the subsequent need for policy support have called the traditional separation between fiscal and monetary policies into question. Based on simulations of an open economy DSGE model calibrated to emerging and advance economies and case study evidence, the analysis shows when constraints are binding a more integrated approach of looking at policies can lead to a better policy mix and ultimately better macroeconomic outcomes under certain circumstances. Nonetheless, such an approach entails risks, necessitating a clear assessment of each country’s circumstances as well as safeguards to protect the credibility of the existing institutional framework.
Author : Campbell Leith
Publisher :
ISBN 13 :
Total Pages : 34 pages
Book Rating : 4.:/5 (51 download)
Download or read book Interactions Between Monetary and Fiscal Policy Under Flexible Exchange Rates written by Campbell Leith and published by . This book was released on 2002 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Farrokh Langdana
Publisher : Springer Science & Business Media
ISBN 13 : 0387776664
Total Pages : 298 pages
Book Rating : 4.3/5 (877 download)
Download or read book Macroeconomic Policy written by Farrokh Langdana and published by Springer Science & Business Media. This book was released on 2009-04-05 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is an applications-oriented text that demystifies the linkages between monetary and fiscal policies and key macroeconomic variables such as income, unemployment, inflation and interest rates. Specially written "newspaper" articles simulate current macroeconomic news on asset-price bubbles, exchange rates, hyperinflation and more. Exercises and diagrams, and a global perspective – incorporating both developed and emerging economies - make this a broadly useful, real-world oriented text on a complex and shifting subject.
Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 1451844239
Total Pages : 33 pages
Book Rating : 4.4/5 (518 download)
Download or read book Coordination of Monetary and Fiscal Policies written by International Monetary Fund and published by International Monetary Fund. This book was released on 1998-03-01 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recently, monetary authorities have increasingly focused on implementing policies to ensure price stability and strengthen central bank independence. Simultaneously, in the fiscal area, market development has allowed public debt managers to focus more on cost minimization. This “divorce” of monetary and debt management functions in no way lessens the need for effective coordination of monetary and fiscal policy if overall economic performance is to be optimized and maintained in the long term. This paper analyzes these issues based on a review of the relevant literature and of country experiences from an institutional and operational perspective.
Author : Andrew Hodge
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 52 pages
Book Rating : 4.4/5 (2 download)
Download or read book U.S. and Euro Area Monetary and Fiscal Interactions During the Pandemic: A Structural Analysis written by Andrew Hodge and published by International Monetary Fund. This book was released on 2022-11-11 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper employs a two-country New Keynesian DSGE model to assess the macroeconomic impact of the changes in monetary policy frameworks and the fiscal support in the U.S. and euro area during the pandemic. Moving from a previous target of “below, but close to 2 percent” to a formal symmetric inflation targeting regime in the euro area or from flexible to average inflation targeting in the U.S. is shown to boost output and inflation in both regions. Meanwhile, the fiscal packages approved in the U.S. and the euro area, and a slower withdrawal of fiscal support in the euro area, have a similar impact on output and inflation as changing the monetary policy frameworks . Simultaneously implementing these policies is mutually reinforcing, but insufficient to fully explain the unexpected increase in core inflation during 2021.
Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 9781589061767
Total Pages : 886 pages
Book Rating : 4.0/5 (617 download)
Download or read book Current Developments in Monetary and Financial Law, Volume 2 written by International Monetary Fund and published by International Monetary Fund. This book was released on 2003-10-20 with total page 886 pages. Available in PDF, EPUB and Kindle. Book excerpt: The papers published in this volume are based on an IMF seminar held in 2000 that covered a broad range of topics on monetary and financial law, such as the liberalization of capital movements, data dissemination, responsibilities of central banks, and the IMF’s goals in financial surveillance and architecture. Participants addressed recent issues in the financial sector, including those related to payment systems and supervision of financial institutions. Updates dealt with Internet banking, bank secrecy, and currency arrangements-including dollarization. Participants discussed the recent activities of the other international financial institutions, which included the European Central Bank and the International Finance Corporation. Prevention of financial crises was also discussed, with reference to the distinct roles of the IMF and the private sector.
Author : Alvin Harvey Hansen
Publisher :
ISBN 13 : 9781258417680
Total Pages : 246 pages
Book Rating : 4.4/5 (176 download)
Download or read book Monetary Theory And Fiscal Policy written by Alvin Harvey Hansen and published by . This book was released on 2012-06 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Sir Alec Cairncross
Publisher :
ISBN 13 :
Total Pages : 34 pages
Book Rating : 4.:/5 (46 download)
Download or read book The Relationship Between Monetary and Fiscal Policy written by Sir Alec Cairncross and published by . This book was released on 1983 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Michael D. Bordo
Publisher : University of Chicago Press
ISBN 13 : 0226066959
Total Pages : 545 pages
Book Rating : 4.2/5 (26 download)
Download or read book The Great Inflation written by Michael D. Bordo and published by University of Chicago Press. This book was released on 2013-06-28 with total page 545 pages. Available in PDF, EPUB and Kindle. Book excerpt: Controlling inflation is among the most important objectives of economic policy. By maintaining price stability, policy makers are able to reduce uncertainty, improve price-monitoring mechanisms, and facilitate more efficient planning and allocation of resources, thereby raising productivity. This volume focuses on understanding the causes of the Great Inflation of the 1970s and ’80s, which saw rising inflation in many nations, and which propelled interest rates across the developing world into the double digits. In the decades since, the immediate cause of the period’s rise in inflation has been the subject of considerable debate. Among the areas of contention are the role of monetary policy in driving inflation and the implications this had both for policy design and for evaluating the performance of those who set the policy. Here, contributors map monetary policy from the 1960s to the present, shedding light on the ways in which the lessons of the Great Inflation were absorbed and applied to today’s global and increasingly complex economic environment.
Author : Kent Matthews
Publisher : John Wiley & Sons
ISBN 13 : 0470032812
Total Pages : 210 pages
Book Rating : 4.4/5 (7 download)
Download or read book Issues in Monetary Policy written by Kent Matthews and published by John Wiley & Sons. This book was released on 2006-02-22 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the Bank of England was made independent in 1997, the conduct of monetary policy has been relatively uncontroversial. The debates between Keyneisans, monetarists and supporters of fixed exchange rate mechanisms now appear very distant. Despite the apparent consensus there are many issues related to the conduct of monetary policy that are not yet settled and which will soon come to the fore. Is the current form of independence for the Bank of England appropriate? Should a central bank target inflation or the prices level? How does a central bank deal with asset price deflation? Should more account be taken of monetary aggregates? Should central banks target asset prices? What is the relationship between the money supply and asset price inflation? How should central banks ensure financial stability? The IEA was at the forefront of changing the parameters of the debate surrounding monetary policy in the 1970s and 1980s. This text, brings together some of the leading authors in the field, including the current Governor of the Bank of England, to discuss current issues in monetary policy and the relationship between monetary policy and financial markets. It is appropriate for undergraduates and postgraduates in economics and finance as well as for practitioners in financial markets.
Author : António Afonso
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (962 download)
Download or read book Interactions Between Monetary Policy and Fiscal Policy written by António Afonso and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Michael Carlberg
Publisher : Springer Science & Business Media
ISBN 13 : 3540298002
Total Pages : 298 pages
Book Rating : 4.5/5 (42 download)
Download or read book Monetary and Fiscal Policies in the Euro Area written by Michael Carlberg and published by Springer Science & Business Media. This book was released on 2006-03-14 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book studies the interactions between monetary and fiscal poUcies in the euro area. It carefully discusses the process of policy competition and the structure of policy cooperation. As to policy competition, the focus is on competition between the European central bank, the American central bank, the German government, and the French government. As to policy cooperation, the focus is on the same institutions. These are higher-dimensional issues. The pohcy targets are price stability and full employment. The policy makers follow co- turkey or gradualist strategies. The policy decisions are taken sequentially or simultaneously. Monetary and fiscal policies have spillover effects. Special features of this book are numerical simulations of policy competition and numerical solutions to policy cooperation. The present book is part of a larger research project on European Monetary Union, see the references at the back of the book. Some parts of this project were presented at the World Congress of the International Economic Association. Other parts were presented at the International Conference on Macroeconomic Analysis, at the International Institute of Public Finance, at the Macro Study Group of the German Economic Association, at the Annual Meeting of the Austrian Economic Association, at the Gottingen Workshop on International Economics, at the Halle Workshop on Monetary Economics, at the Research Seminar on Macroeconomics in Freiburg, and at the Passau Workshop on International Economics.
Author : Jack Rabin
Publisher : CRC Press
ISBN 13 : 9780824705787
Total Pages : 1012 pages
Book Rating : 4.7/5 (57 download)
Download or read book Handbook of Monetary Policy written by Jack Rabin and published by CRC Press. This book was released on 2001-12-19 with total page 1012 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Examines the politics of economic policy, focusing on forecasting, inflation, interest rates, market expectations, financial crises, disruptions in global markets, and tax policy, as well as state and local government budgeting, financial management, and policy initiatives for development and growth."
Author : Robert C. M. Beyer
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 27 pages
Book Rating : 4.4/5 (2 download)
Download or read book Shared Problem, Shared Solution: Benefits from Fiscal-Monetary Interactions in the Euro Area written by Robert C. M. Beyer and published by International Monetary Fund. This book was released on 2023-07-21 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper employs two established macroeconomic models to show that fiscal policy in the euro area can help monetary policy in reducing inflation. Specifically, a fiscal consolidation of 1 percent of GDP for two years and 0.5 percent in the third year across the euro area would ease the policy interest rate by 30-50 basis points relative to the baseline scenario, while lowering inflation. It would also put the public debt-to-GDP ratio on a downward path, with the output costs reversing after the second year. Additionally, a stronger fiscal contribution to the policy mix could mitigate financial fragmentation risks. In the current context of elevated inflation in all euro area economies, the findings suggest two key takeaways: first, synchronized fiscal and monetary policies offer gains even when monetary policy is unconstrained and, second, sharing the burden of lowering inflation through fiscal consolidation among euro area members is beneficial for union-wide inflation reduction, improving debt sustainability and inducing a lower policy rate path.
