- Monetary and fiscal policies🔍
- Fiscal Policy Stabilization🔍
- Unconventional Monetary Policy🔍
- Fiscal Policy in a Currency Union at the Zero Lower Bound🔍
- REAL RIGIDITIES AND OPTIMAL STABILIZATION AT THE ZERO ...🔍
- Endogenous Volatility at the Zero Lower Bound🔍
- Dominance score in the fiscal|monetary interaction🔍
- Fiscal Stimulus at the Zero Lower Bound🔍
Fiscal and monetary stabilization policy at the zero lower bound
Monetary and fiscal policies: In search of a corridor of stability - CEPR
Monetary policy deployed its power to create and distribute liquidity; fiscal policy used its power to transfer resources and spend. Together, ...
Fiscal Policy Stabilization: Purchases or Transfers?
The transfer multiplier is most relevant at the zero lower bound where the size of the multiplier is increasing in the debt elasticity of the credit spread and ...
Unconventional Monetary Policy | Explainer | Education | RBA
(See Box on 'Government bonds and the risk-free yield curve'.) In this way, asset purchases by the central bank can lower a range of interest rates other than ...
Fiscal Policy in a Currency Union at the Zero Lower Bound
When monetary policy is constrained by the zero lower bound, fiscal policy can be used to achieve macro stabilization objectives. At the same time, ...
REAL RIGIDITIES AND OPTIMAL STABILIZATION AT THE ZERO ...
The paper revisits the literature on real rigidities in New Keynesian models in the context of an economy at the zero lower bound.
Endogenous Volatility at the Zero Lower Bound
State-contingent optimal monetary and fiscal policies can attenuate this endogenous volatility by stabilizing the distribution of future outcomes ...
Dominance score in the fiscal-monetary interaction - AIMS Press
J Money Credit Bank 36: 883–910. [33], Woodford M, Xie Y (2022) Fiscal and monetary stabilization policy at the zero lower bound: Consequences ...
Fiscal Stimulus at the Zero Lower Bound: the role of expectations ...
Precluded from continuing stimulating their economies through monetary policy, these countries promoted significant fiscal stimuli. A larger stimulative effect ...
upon a large literature on optimal monetary policy at the zero bound, such as Summers (1991), ... "The Zero-Bound, Low Inflation, and Output Collapse," mimeo,.
Essays on Stabilization Policies at the Zero Lower Bound
Low natural real interest rates limit the power of monetary policy to ... Fiscal stabilization via higher public debt is frequently recommended as a policy ...
Fiscal Policy under Low Interest Rates - MIT Press
At the same time, he shows how low rates decrease the room to maneuver in monetary policy—and thus increase the benefits of using fiscal policy, including ...
Fiscal policy stabilization: Purchases or transfers? - Equitable Growth
The transfer multiplier is most relevant at the zero lower bound where the size of the multiplier is increasing in the debt elasticity of the ...
An Exploration of Optimal Stabilization Policy Working Paper
Then, we examine the options for monetary policy when A2 falls further and the economy hits the zero lower bound. ... Fiscal. Policy at the Zero ...
Fiscal and monetary policy interaction at the effective lower bound
Some central banks have reduced their policy rates to zero, others including the Reserve Bank of New Zealand to date, have maintained a rate a ...
Olivier Blanchard on rethinking fiscal and monetary policy, post-COVID
The second, called the “zero lower bound”, comes from the fact that nominal interest rates cannot be negative (or only to a very limited extent) ...
The Public Finance Approach to Optimal Stabilization Policy
Second, if monetary policy is constrained by the effective lower bound (ELB) on nominal ... “The Zero Bound on Interest Rates and. Optimal Monetary Policy.
Should Governments Consider Monetary Policy When Formulating ...
Should Governments Consider Monetary Policy When Formulating Fiscal Stabilization Rules? ... Preprints and early-stage research may not have been ...
Economic Growth and Macroeconomic Stabilization Policies in Post ...
Chapter 2: Autonomous demand growth, distribution, and fiscal and monetary policy in the short and long runs ... zero lower bound is not ...
A Monetary and Fiscal History of the United States, 1961-2022
For example, while looser fiscal policy generally raises interest rates, looser monetary policy generally lowers them. ... zero” lower bound on ...
Keywords: Money, Heterogeneity, Stabilization Policy, Zero Lower Bound, Quantitative Easing. JEL codes: E40, E50. We thank participants in workshops and ...