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Author: Mats Persson
Publisher:
ISBN:
Category : Fiscal policy
Languages : en
Pages : 21
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Author: Mats Persson
Publisher:
ISBN:
Category : Fiscal policy
Languages : en
Pages : 21
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Book Description
Author: Fernando Alvarez
Publisher:
ISBN:
Category : Fiscal policy
Languages : en
Pages : 42
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Author: Guillermo Calvo
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Author: Torsten Persson
Publisher: MIT Press (MA)
ISBN:
Category : Business & Economics
Languages : en
Pages : 496
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Book Description
This is the first of two volumes on a theory of macroeconomic policy that analyzes which policies are credible or politically feasible. Instead of looking at policy as an end product, the contributors approach policy as an ongoing process of revised goals, changes in tactics, and political pressures. They consider what kinds of incentives within different institutional settings, drive policy-making and the behaviour of policy-makers. The approach explains why certain monetary and fiscal policies are implemented, and provides insights into situations that occur repeatedly in macroeconomic policy, such as the bias toward government deficits, partisan competition and central bank independence.
Author: Steven Durlauf
Publisher: Springer
ISBN: 0230280854
Category : Performing Arts
Languages : en
Pages : 395
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Book Description
Specially selected from The New Palgrave Dictionary of Economics 2nd edition, each article within this compendium covers the fundamental themes within the discipline and is written by a leading practitioner in the field. A handy reference tool.
Author: Mr.Cristiano Cantore
Publisher: International Monetary Fund
ISBN: 1475590199
Category : Business & Economics
Languages : en
Pages : 44
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Book Description
The initial government debt-to-GDP ratio and the government’s commitment play a pivotal role in determining the welfare-optimal speed of fiscal consolidation in the management of a debt crisis. Under commitment, for low or moderate initial government debt-to-GPD ratios, the optimal consolidation is very slow. A faster pace is optimal when the economy starts from a high level of public debt implying high sovereign risk premia, unless these are suppressed via a bailout by official creditors. Under discretion, the cost of not being able to commit is reflected into a quick consolidation of government debt. Simple monetary-fiscal rules with passive fiscal policy, designed for an environment with “normal shocks”, perform reasonably well in mimicking the Ramsey-optimal response to one-off government debt shocks. When the government can issue also long-term bonds–under commitment–the optimal debt consolidation pace is slower than in the case of short-term bonds only, and entails an increase in the ratio between long and short-term bonds.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1451844239
Category : Business & Economics
Languages : en
Pages : 33
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Book Description
Recently, monetary authorities have increasingly focused on implementing policies to ensure price stability and strengthen central bank independence. Simultaneously, in the fiscal area, market development has allowed public debt managers to focus more on cost minimization. This “divorce” of monetary and debt management functions in no way lessens the need for effective coordination of monetary and fiscal policy if overall economic performance is to be optimized and maintained in the long term. This paper analyzes these issues based on a review of the relevant literature and of country experiences from an institutional and operational perspective.
Author: Fernando Alvarez
Publisher:
ISBN:
Category : Fiscal policy
Languages : en
Pages : 31
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Author: Mats Persson
Publisher:
ISBN:
Category :
Languages : en
Pages : 21
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Book Description
Author: Guillermo A. Calvo
Publisher:
ISBN:
Category : Fiscal policy
Languages : en
Pages : 13
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Book Description
