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  1. Monetary-fiscal crosswinds in the European Monetary Union
    Autor*in: Reichlin, Lucrezia; Ricco, Giovanni; Tarbé, Matthieu
    Erschienen: [2021]
    Verlag:  OFCE, Paris, France

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    Verlag (kostenfrei)

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    ZSS 48
    Fernleihe:
    keine Fernleihe
    Export in Literaturverwaltung   RIS-Format
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Schriftenreihe: Sciences Po OFCE working paper ; no 2021, 23
    Schlagworte: Monetary-fiscal interaction; fiscal policy; monetary policy; intertemporal government budget constraint
    Umfang: 1 Online-Ressource (circa 68 Seiten), Illustrationen
  2. Classification of monetary and fiscal dominance regimes using machine learning techniques
    Autor*in: Hinterlang, Natascha; Hollmayr, Josef
    Erschienen: [2021]
    Verlag:  Institute for Monetary and Financial Stability, Goethe University Frankfurt, Frankfurt am Main

    This paper identiftes U.S. monetary and ftscal dominance regimes using machine learning techniques. The algorithms are trained and verifted by employing simulated data from Markov-switching DSGE models, before they classify regimes from 1968-2017... mehr

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    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 464
    Fernleihe:
    keine Fernleihe

     

    This paper identiftes U.S. monetary and ftscal dominance regimes using machine learning techniques. The algorithms are trained and verifted by employing simulated data from Markov-switching DSGE models, before they classify regimes from 1968-2017 using actual U.S. data. All machine learning methods outperform a standard logistic regression concerning the simulated data. Among those the Boosted Ensemble Trees classifter yields the best results. We ftnd clear evidence of ftscal dominance before Volcker. Monetary dominance is detected between 1984-1988, before a ftscally led regime turns up around the stock market crash lasting until 1994. Until the beginning of the new century, monetary dominance is established, while the more recent evidence following the ftnancial crisis is mixed with a tendency towards ftscal dominance.

     
    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/234736
    Schriftenreihe: Working paper series / Institute for Monetary and Financial Stability ; no. 160 (2021)
    Schlagworte: Monetary-fiscal interaction; Machine Learning; Classification; Markov-switching DSGE
    Umfang: 1 Online-Ressource (circa 40 Seiten), Illustrationen