на главную поиск contacts

Interactions between Monetary and Fiscal Policy Rules

Опубликовано на портале: 24-09-2007
The Economic Journal. 2000.  Vol. 110. No. 462, Conference Papers. P. C93-C108. 
The Fiscal Stability Pact for EMU implies that constraints on fiscal policy facilitate inflation control. In this paper we identify two stable policy regimes. When monetary policy seeks to raise real interest rates in response to excess inflation, a self-stabilising fiscal policy is required to ensure model stability. A fiscal policy which does not, by itself, ensure fiscal solvency constrains monetary policy to be relatively 'passive'. However, in simulations we conclude that the central bank does not need to seek, on this account, the degree of debt stabilisation that appears to be implied by the fiscal stability pact

Описание и первая страница статьи размещены на сайте JSTOR.

Полный текст статьи находится в закрытом доступе на сайте JSTOR, а также на сайте Blackwell Synergy
Ключевые слова

См. также:
Kai Leitemo
European Journal of Political Economy. 2004.  Vol. 20. No. 3. P. 709-724. 
Jagjit S. Chadha, Charles Nolan
Journal of Macroeconomics. 2007.  Vol. 29. No. 4. P. 665-689 . 
Stephanie Schmitt-Grohe, Martin Uribe
Journal of Monetary Economics. 2007.  Vol. 54. No. 6. P. 1702-1725. 
Andrew Hughes Hallett, Diana Weymark
Economics Letters. 2004.  Vol. 85. No. 1. P. 103-110. 
Kirdan Lees
Journal of Macroeconomics. 2007.  Vol. 29. No. 4. P. 959-975. 
I. McAvinchey, W.D. McCausland
Journal of Policy Modeling. 2007.  Vol. 29. No. 6. P. 869-877. 
Zeno Rotondi, Glacomo Vaciago
Universita Cattolica del Sacro Cuore di Milano Working Papers. 2002.  No. 46.