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Author : Mats Persson
Publisher :
ISBN 13 :
Total Pages : 21 pages
Book Rating : 4.:/5 (664 download)
Download or read book Time consistency of fiscal and monetary policy : a solution written by Mats Persson and published by . This book was released on 2005 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mats Persson
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (53 download)
Download or read book The consistency of fiscal and monetary policy written by Mats Persson and published by . This book was released on 1985 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Fernando Alvarez
Publisher :
ISBN 13 :
Total Pages : 42 pages
Book Rating : 4.:/5 (7 download)
Download or read book The Time Consistency of Monetary and Fiscal Policies written by Fernando Alvarez and published by . This book was released on 2002 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Guillermo Calvo
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (31 download)
Download or read book Time Consistency of Fiscal and Monetary Policy: a Comment : a Reply by Mats Persson, Torsten Persson and Lars E. O. Svensson written by Guillermo Calvo and published by . This book was released on 1989 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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 : Mats Persson
Publisher :
ISBN 13 :
Total Pages : 8 pages
Book Rating : 4.:/5 (256 download)
Download or read book Time Consistency of Fiscal and Monetary Policy written by Mats Persson and published by . This book was released on 1989 with total page 8 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mats Persson
Publisher :
ISBN 13 :
Total Pages : 13 pages
Book Rating : 4.:/5 (22 download)
Download or read book Time consistency of fiscal and monetary policy written by Mats Persson and published by . This book was released on 1987 with total page 13 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Guillermo A. Calvo
Publisher :
ISBN 13 :
Total Pages : 13 pages
Book Rating : 4.:/5 (53 download)
Download or read book Time Consistency of Fiscal and Monetary Policy written by Guillermo A. Calvo and published by . This book was released on 1989 with total page 13 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Torsten Persson
Publisher : MIT Press (MA)
ISBN 13 :
Total Pages : 496 pages
Book Rating : 4.3/5 (91 download)
Download or read book Monetary and Fiscal Policy: Credibility written by Torsten Persson and published by MIT Press (MA). This book was released on 1994 with total page 496 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the first of two volumes on a theory of macroeconomic policy that analyzes which policies are credible or politically feasible. Instead of looking at policy as an end product, the contributors approach policy as an ongoing process of revised goals, changes in tactics, and political pressures. They consider what kinds of incentives within different institutional settings, drive policy-making and the behaviour of policy-makers. The approach explains why certain monetary and fiscal policies are implemented, and provides insights into situations that occur repeatedly in macroeconomic policy, such as the bias toward government deficits, partisan competition and central bank independence.
Author : Fernando Alvarez
Publisher :
ISBN 13 :
Total Pages : 31 pages
Book Rating : 4.:/5 (99 download)
Download or read book The Time Consistency of Optimal Monetary and Fiscal Policies written by Fernando Alvarez and published by . This book was released on 2003 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mr.Cristiano Cantore
Publisher : International Monetary Fund
ISBN 13 : 1475590199
Total Pages : 44 pages
Book Rating : 4.4/5 (755 download)
Download or read book Optimal Fiscal and Monetary Policy, Debt Crisis and Management written by Mr.Cristiano Cantore and published by International Monetary Fund. This book was released on 2017-03-30 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: The initial government debt-to-GDP ratio and the government’s commitment play a pivotal role in determining the welfare-optimal speed of fiscal consolidation in the management of a debt crisis. Under commitment, for low or moderate initial government debt-to-GPD ratios, the optimal consolidation is very slow. A faster pace is optimal when the economy starts from a high level of public debt implying high sovereign risk premia, unless these are suppressed via a bailout by official creditors. Under discretion, the cost of not being able to commit is reflected into a quick consolidation of government debt. Simple monetary-fiscal rules with passive fiscal policy, designed for an environment with “normal shocks”, perform reasonably well in mimicking the Ramsey-optimal response to one-off government debt shocks. When the government can issue also long-term bonds–under commitment–the optimal debt consolidation pace is slower than in the case of short-term bonds only, and entails an increase in the ratio between long and short-term bonds.
Author : Guillermo A. Calvo
Publisher :
ISBN 13 :
Total Pages : 58 pages
Book Rating : 4.:/5 (18 download)
Download or read book Time Consistency of Fiscal and Monetary Policy written by Guillermo A. Calvo and published by . This book was released on 1989 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Board of Governors of the Federal Reserve System
Publisher :
ISBN 13 : 9780894991967
Total Pages : 0 pages
Book Rating : 4.9/5 (919 download)
Download or read book The Federal Reserve System Purposes and Functions written by Board of Governors of the Federal Reserve System and published by . This book was released on 2002 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Provides an in-depth overview of the Federal Reserve System, including information about monetary policy and the economy, the Federal Reserve in the international sphere, supervision and regulation, consumer and community affairs and services offered by Reserve Banks. Contains several appendixes, including a brief explanation of Federal Reserve regulations, a glossary of terms, and a list of additional publications.
Author : Vincent Belinga
Publisher : International Monetary Fund
ISBN 13 : 1513572180
Total Pages : 44 pages
Book Rating : 4.5/5 (135 download)
Download or read book (Not) Dancing Together written by Vincent Belinga and published by International Monetary Fund. This book was released on 2015-05-27 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides estimates of the government spending multiplier over the monetary policy cycle. We identify government spending shocks as forecast errors of the growth rate of government spending from the Survey of Professional Forecasters (SPF) and from the Greenbook record. The state of monetary policy is inferred from the deviation of the U.S. Fed funds rate from the target rate, using a smooth transition function. Applying the local projections method to quarterly U.S. data, we find that the federal government spending multiplier is substantially higher under accommodative than non-accommodative monetary policy. Our estimations also suggest that federal government spending may crowd-in or crowd-out private consumption, depending on the extent of monetary policy accommodation. The latter result reconciles—in a unified framework—apparently contradictory findings in the literature. We discuss the implications of our findings for the ongoing normalization of monetary conditions in advanced economies.
Author : A. C. Pigou
Publisher : Read Books Ltd
ISBN 13 : 1447487869
Total Pages : 357 pages
Book Rating : 4.4/5 (474 download)
Download or read book A Study in Public Finance written by A. C. Pigou and published by Read Books Ltd. This book was released on 2013-03-06 with total page 357 pages. Available in PDF, EPUB and Kindle. Book excerpt: This antiquarian book contains a comprehensive treatise on the topic of public finance, with information on taxation, employment, wages, and much more. This is a text that will be of considerable utility to those with an interest in the history and development of modern economical practices, and will make for a valuable addition to collections of allied literature. The chapters of this book include: 'Principles of Compensation', 'Non-transfer and Transfer Expenditures by Government Authorities', 'The Finance of Business Undertakings Operated by Public Authorities', 'The Range Of Government Expenditure', 'The Place of Loans Other than War Loans in Public Finance', and more. We are republishing this volume now in an affordable, modern edition complete with a specially commissioned biography of Arthur Cecil Pigou.
Author : Martin Weale
Publisher : Routledge
ISBN 13 : 1317379438
Total Pages : 403 pages
Book Rating : 4.3/5 (173 download)
Download or read book Macroeconomic Policy written by Martin Weale and published by Routledge. This book was released on 2015-10-05 with total page 403 pages. Available in PDF, EPUB and Kindle. Book excerpt: This analysis of macroeconomic policy, originally published in 1989, argues that key government objectives, such as reduced inflation, decreased unemployment and an adequate level of national saving can be achieved only by employing both monetary and fiscal policies, in conjunction with supply-side policies expressly designed to improve the workings of the labour market. Part 1 is a comparative analysis showing the effects of monetary and fiscal policy on the economy. Real-wage rigidity in the labour market is shown to have important consequences for the working of both types of policy, because it conditions the economy’s response to tax changes. Part 2 presents an econometric model which combines consistent stock-flow accounts with a full range of expectational effects. Part 3 presents an innovative technique for solving rational expectations models with the need for arbitary terminal conditions.
Author : Ruoyun Mao
Publisher : International Monetary Fund
ISBN 13 : 1513546791
Total Pages : 44 pages
Book Rating : 4.5/5 (135 download)
Download or read book Government Spending Effects in a Policy Constrained Environment written by Ruoyun Mao and published by International Monetary Fund. This book was released on 2020-06-12 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: The theoretical literature generally finds that government spending multipliers are bigger than unity in a low interest rate environment. Using a fully nonlinear New Keynesian model, we show that such big multipliers can decrease when 1) an initial debt-to-GDP ratio is higher, 2) tax burden is higher, 3) debt maturity is longer, and 4) monetary policy is more responsive to inflation. When monetary and fiscal policy regimes can switch, policy uncertainty also reduces spending multipliers. In particular, when higher inflation induces a rising probability to switch to a regime in which monetary policy actively controls inflation and fiscal policy raises future taxes to stabilize government debt, the multipliers can fall much below unity, especially with an initial high debt ratio. Our findings help reconcile the mixed empirical evidence on government spending effects with low interest rates.
