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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 : 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 : Torsten Persson
Publisher : MIT Press
ISBN 13 : 9780262660884
Total Pages : 476 pages
Book Rating : 4.6/5 (68 download)
Download or read book Monetary and Fiscal Policy: Politics written by Torsten Persson and published by MIT Press. This book was released on 1994 with total page 476 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 : Steven Durlauf
Publisher : Springer
ISBN 13 : 0230280854
Total Pages : 395 pages
Book Rating : 4.2/5 (32 download)
Download or read book Monetary Economics written by Steven Durlauf and published by Springer. This book was released on 2016-04-30 with total page 395 pages. Available in PDF, EPUB and Kindle. Book excerpt: Specially selected from The New Palgrave Dictionary of Economics 2nd edition, each article within this compendium covers the fundamental themes within the discipline and is written by a leading practitioner in the field. A handy reference tool.
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 : 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 : 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 : 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 : 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 : Stefania Albanesi
Publisher :
ISBN 13 :
Total Pages : 45 pages
Book Rating : 4.:/5 (249 download)
Download or read book Optimal and Time-consistent Monetary and Fiscal Policy with Heterogeneous Agents written by Stefania Albanesi and published by . This book was released on 2003 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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 : Saroj Bhattarai
Publisher :
ISBN 13 :
Total Pages : 68 pages
Book Rating : 4.:/5 (913 download)
Download or read book Time Consistency and the Duration of Government Debt written by Saroj Bhattarai and published by . This book was released on 2015 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: We present a signalling theory of Quantitative Easing (QE) at the zero lower bound on the short term nominal interest rate. QE is effective because it generates a credible signal of low future real interest rates in a time consistent equilibrium. We show these results in two models. One has coordinated monetary and fiscal policy. The other an independent central bank with balance sheet concerns. Numerical experiments show that the signalling effect can be substantial in both models.
Author : Stefania ALBANESI
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (119 download)
Download or read book Optimal and Time-consistent Monetary and Fiscal Policy with Heterogenous Agents written by Stefania ALBANESI and published by . This book was released on 2003 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Xiaoshan Chen
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (117 download)
Download or read book Strategic Interactions in U.S. Monetary and Fiscal Policies written by Xiaoshan Chen and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: We estimate a model in which fiscal and monetary policy behavior arise from the optimizing behavior of distinct policy authorities, with potentially different welfare functions. Optimal time-consistent policy behavior fits U.S. time series at least as well as rules-based behavior. American policies often do not conform to the conventional mix of conservative monetary policy and debt-stabilizing fiscal policy. Even after the Volcker disinflation, policies did not achieve that conventional mix, as fiscal policy did not act to stabilize debt until the mid 1990s. A credible conservative central bank that follows a time-consistent fiscal policy leader would come close to mimicking the cooperative Ramsey policy. Had that strategic policy mix been in place, American might have avoided the Great Inflation. Enhancing cooperation between policy makers without an ability to commit may be detrimental to welfare.
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 : 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 : Frederic S. Mishkin
Publisher : MIT Press
ISBN 13 : 0262134829
Total Pages : 561 pages
Book Rating : 4.2/5 (621 download)
Download or read book Monetary Policy Strategy written by Frederic S. Mishkin and published by MIT Press. This book was released on 2007 with total page 561 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book by a leading authority on monetary policy offers a unique view of the subject from the perspectives of both scholar and practitioner. Frederic Mishkin is not only an academic expert in the field but also a high-level policymaker. He is especially well positioned to discuss the changes in the conduct of monetary policy in recent years, in particular the turn to inflation targeting. Monetary Policy Strategydescribes his work over the last ten years, offering published papers, new introductory material, and a summing up, "Everything You Wanted to Know about Monetary Policy Strategy, But Were Afraid to Ask," which reflects on what we have learned about monetary policy over the last thirty years. Mishkin blends theory, econometric evidence, and extensive case studies of monetary policy in advanced and emerging market and transition economies. Throughout, his focus is on these key areas: the importance of price stability and a nominal anch fiscal and financial preconditions for achieving price stability; central bank independence as an additional precondition; central bank accountability; the rationale for inflation targeting; the optimal inflation target; central bank transparency and communication; and the role of asset prices in monetary policy.
