Analyzing the Interaction of Monetary and Fiscal Policy: Does Fiscal Policy Play a Valuable Role in Stabilisation?
Опубликовано на портале: 26-09-2007
CESifo Economic Studies.
2005.
Vol. 51.
No. 4.
P. 549-585.
Тематический раздел:
This paper provides an overview of recent papers which use estimated New Keynesian
models to study the extent to which fiscal policy can be used to stabilize the economy.
We use a variety of different New Keynesian models, estimated on data for both the
US and for the Euro area, and highlight the diverse transmission channels through
which fiscal policy acts in these models. Although we find that fiscal policy can
provide a useful complement to monetary policy, especially in models where consumers
have finite horizons, there are important limitations to the value added of fiscal
policy.
Полный текст статьи находится в открытом доступе на сайте журнала CESifo Economic Studies.
Ключевые слова
fiscal policy stabilisation interaction of monetary and fiscal policy transmission channels of fiscal policy взаимодействие фискальной и монетарной политики
См. также:
European Journal of Political Economy.
2004.
Vol. 20.
No. 3.
P. 709-724.
[Статья]
Journal of Macroeconomics.
2007.
Vol. 29.
No. 4.
P. 665-689 .
[Статья]
Economics Letters.
2004.
Vol. 85.
No. 1.
P. 103-110.
[Статья]
Journal of Macroeconomics.
2007.
Vol. 29.
No. 4.
P. 959-975.
[Статья]
CEPR Discussion Papers.
2002.
No. 3336.
[Статья]
Journal of International Economics.
2003.
Vol. 60.
No. 2.
P. 235-247.
[Статья]
Working Paper (University of Rome "La Sapienza").
2004.
No. 74.
[Статья]