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  1. Optimal fiscal policy and the fiscal theory of the price level
    Erschienen: [2022]
    Verlag:  Institut de recherche économiques et sociales, UC Louvain, Louvain-la-Neuve

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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 2078.1/265772
    Schriftenreihe: LIDAM discussion paper IRES ; 2022, 22
    Schlagworte: passive monetary policy; optimal fiscal policy; time-consistent equilibrium; public investment
    Umfang: 1 Online-Ressource (circa 63 Seiten), Illustrationen
  2. Optimal monetary and transfer policy in a liquidity trap
    Erschienen: [2022]
    Verlag:  Universität Bern, Faculty of Business, Economics and Social Sciences, Department of Economics, Bern, Switzerland

    Optimal monetary and fiscal policy are jointly analyzed in a heterogeneous two-agents New Keynesian environment, where fiscal policy is modeled in the form of lump-sum transfers set by the government. The main result is that transfer policy does not... mehr

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    Optimal monetary and fiscal policy are jointly analyzed in a heterogeneous two-agents New Keynesian environment, where fiscal policy is modeled in the form of lump-sum transfers set by the government. The main result is that transfer policy does not serve as a substitute for forward guidance - as it entails consumption dispersion costs - and does not affect its optimal duration. Transfers indeed influence the length of stay at the zero lower bound through two offsetting channels: a shortening channel works through an initial increase in transfers that mitigates the recession (reducing the need for forward guidance), and a lengthening channel works through a later transfer cut that curbs the undesired expansion (making forward guidance desirable for a longer horizon). Imposing a homogeneous transfer policy across agents does not change the stabilization outcome or the effect on the duration of forward guidance, nor does so allowing for cyclical income differences.

     

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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/278292
    Schriftenreihe: Discussion papers / Universität Bern, Faculty of Business, Economics and Social Sciences, Department of Economics ; 22, 16 (December, 2022)
    Schlagworte: heterogeneity; inequality; liquidity trap; optimal monetary policy; optimal fiscal policy; forward guidance
    Umfang: 1 Online-Ressource (circa 46 Seiten), Illustrationen
  3. US monetary and fiscal policies
    conflict or cooperation?
    Erschienen: 2015
    Verlag:  Univ. of Glasgow, Adam Smith Business School, Glasgow

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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Schriftenreihe: Discussion paper series / University of Glasgow, Adam Smith Business School ; 2015,14
    Schlagworte: Bayesian Estimation; interest rate rules; fiscal policy rules; optimal monetary policy; optimal fiscal policy; great moderation; commitment; discretion
    Umfang: Online-Ressource (66 S.), graph. Darst.
  4. Tax smoothing in a business cycle model with capital-skill complementarity
    Erschienen: 2014
    Verlag:  Univ. of Glasgow, Adam Smith Business School, Glasgow

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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Schriftenreihe: Discussion paper series / University of Glasgow, Adam Smith Business School ; 2014,05
    Schlagworte: skill premium; tax smoothing; optimal fiscal policy
    Umfang: Online-Ressource (34, [4] S.), graph. Darst.