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  1. Active monetary policy, passive fiscal policy and the value of public debt
    some further monetarist arithmetic
    Published: 2003
    Publisher:  Dt. Bundesbank, Frankfurt am Main

    Freie Universität Berlin, Universitätsbibliothek
    Unlimited inter-library loan, copies and loan
    Humboldt-Universität zu Berlin, Universitätsbibliothek, Jacob-und-Wilhelm-Grimm-Zentrum
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    TU Berlin, Universitätsbibliothek
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    Europa-Universität Viadrina, Universitätsbibliothek
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    Universität Potsdam, Universitätsbibliothek
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    Volltext (kostenfrei)
    Source: Philologische Bibliothek, FU Berlin
    Language: English
    Media type: Book
    ISBN: 393582162X
    RVK Categories: QB 310 ; QB 910 ; QC 320
    Series: Discussion paper / Economic Research Centre of the Deutsche Bundesbank ; 2003,12
    Subjects: Gleichgewichtsmodell; Fiskalpolitik; Öffentliche Schulden; Geldpolitik
    Scope: 46 S., graph. Darst.
    Notes:

    Zsfassung in dt. und engl. Sprache. - Literaturverz. S. 39 - 40

  2. Active monetary policy, passive fiscal policy and the value of public debt
    some further monetarist arithmetic
    Published: 2003
    Publisher:  Dt. Bundesbank, Press and Public Relations Div., Frankfurt am Main

  3. Active monetary policy, passive fiscal policy and the value of public debt
    some further monetarist arithmetic
    Published: 2003
    Publisher:  Dt. Bundesbank, Frankfurt am Main

    Freie Universität Berlin, Universitätsbibliothek
    Unlimited inter-library loan, copies and loan
    Humboldt-Universität zu Berlin, Universitätsbibliothek, Jacob-und-Wilhelm-Grimm-Zentrum
    Unlimited inter-library loan, copies and loan
    TU Berlin, Universitätsbibliothek
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    Europa-Universität Viadrina, Universitätsbibliothek
    Unlimited inter-library loan, copies and loan
    Universität Potsdam, Universitätsbibliothek
    Unlimited inter-library loan, copies and loan
    Export to reference management software   RIS file
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    Content information
    Volltext (kostenfrei)
    Source: Philologische Bibliothek, FU Berlin
    Language: English
    Media type: Book
    ISBN: 393582162X
    RVK Categories: QB 310 ; QB 910 ; QC 320
    Series: Discussion paper / Economic Research Centre of the Deutsche Bundesbank ; 2003,12
    Subjects: Fiskalpolitik; Gleichgewichtsmodell; Öffentliche Schulden; Geldpolitik
    Scope: 46 S., graph. Darst.
    Notes:

    Zsfassung in dt. und engl. Sprache. - Literaturverz. S. 39 - 40

  4. Active monetary policy, passive fiscal policy and the value of public debt
    some further monetarist arithmetic
    Published: 2003
    Publisher:  Dt. Bundesbank, Frankfurt am Main

    We consider the properties of two monetary policy rules ('strict inflation targeting', 'constant money growth rule') in an intertemporal equilibrium model with flexible prices in which monetary policy is 'active', while fiscal policy is 'passive'.... more

    Universitätsbibliothek Braunschweig
    3494-4035
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    Sächsische Landesbibliothek - Staats- und Universitätsbibliothek Dresden
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    Niedersächsische Staats- und Universitätsbibliothek Göttingen
    K 2003 B 2753
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    Leibniz-Institut für Wirtschaftsforschung Halle, Bibliothek
    Mag9354
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    Staats- und Universitätsbibliothek Hamburg Carl von Ossietzky
    QC 320 T121 55092
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    Universitätsbibliothek Kiel, Zentralbibliothek
    WP 6-2003/12
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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    W 935 (03.12)
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    Universität Konstanz, Kommunikations-, Informations-, Medienzentrum (KIM)
    wrc 10.06:i/d29-2003,12
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    Universitätsbibliothek Leipzig
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    Leuphana Universität Lüneburg, Medien- und Informationszentrum, Universitätsbibliothek
    02-4129/03,12
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    Universitätsbibliothek Mannheim
    QD 3093
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    ifo Institut für Wirtschaftsforschung an der Universität München, Bibliothek
    95/1194-03,12
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    Bibliotheks-und Informationssystem der Carl von Ossietzky Universität Oldenburg (BIS)
    swl 105.4 SA 0666-2003,12
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    Universität Potsdam, Universitätsbibliothek
    03005153
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    Saarländische Universitäts- und Landesbibliothek
    MV 1171
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    Fachbibliothek Wirtschaftswissenschaft, Bibliothek
    Ua 869
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    We consider the properties of two monetary policy rules ('strict inflation targeting', 'constant money growth rule') in an intertemporal equilibrium model with flexible prices in which monetary policy is 'active', while fiscal policy is 'passive'. Specifically, we assume that the fiscal agent takes the monetary policy rule as given and restricts itself to a policy which is consistent with a sustainable debt burden and stable steady-state dynamics. The paper shows that dynamic properties of the model economy may differ significantly between the two monetary policy rules if public debt is issued in nominal terms. Under a constant money growth rule which allows for temporary deviations of inflation from target in response to shocks there is scope for revaluations of public debt, acting as automatic stabilizers of government debt dynamics. By contrast, a policy of strict inflation targeting implements the target inflation rate also outside the steady state and precludes thereby such stabilizing revaluations. Owing to this feature, additional fiscal restraint may be needed which is not required under a constant money growth rule.

     

    Export to reference management software   RIS file
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    Content information
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Print
    ISBN: 393582162X
    RVK Categories: QB 310 ; QB 910 ; QC 320
    Series: Discussion paper / Economic Research Centre of the Deutsche Bundesbank ; 2003,12
    Subjects: Geldpolitik; Inflationssteuerung; Geldmengensteuerung; Finanzpolitik; Neoklassisches Wachstumsmodell; Overlapping Generations; Intertemporales Gleichgewicht; Öffentliche Schulden; Theorie
    Scope: 46 S, graph. Darst, b
    Notes:

    Zsfassungen in dt. und engl. Sprache. - Literaturverz. S. 39 - 40