Optimal Fiscal and Monetary Policy
Equivalence Results
Dados Bibliográficos
| ID | 10171014 |
|---|---|
| Autores | Isabel Correia (0000-0002-9982-280X, Banco de Portugal), Juan Pablo Nicolini (0000-0002-3138-6343, Universidad Torcuato Di Tella), Pedro Teles (0000-0001-7969-1403, Banco de Portugal) |
| Ano | 2008 |
| Volume | 116 |
| Fascículo | 1 |
| Páginas | 141-170 |
| Data de publicação | 2008-02-01 |
| Peer Reviewed | Sim |
| Open Access | Não |
| Tipo | ARTICLE |
| Periódico | Journal of Political Economy (JOURNAL) |
| Identificadores do periódico | ISSN: 0022-3808 • E-ISSN: 1537-534X |
| Editora | University of Chicago Press (PUBLISHER • US) |
| DOI | 10.1086/533504 |
| OpenAlex | W2103649432 |
| Idioma | EN |
| Citações recebidas | 10 |
| Referências citadas | 22 |
In this article, we analyze the implications of price-setting restrictions for the conduct of cyclical fiscal and monetary policy. We consider standard monetary economies that differ in the price-setting restrictions imposed on the firms. We show that, independently of the degree or type of price stickiness, it is possible to implement the same efficient set of allocations and that each allocation in that set is implemented with policies that are also independent of the price stickiness. In this sense, environments with different price-setting restrictions are equivalent. (c) 2008 by The University of Chicago. All rights reserved
Economics · Equivalence (formal languages · Fiscal policy · Microeconomics · Monetary economics · Monetary policy · Price level · Price setting · Ricardian equivalence · Set (abstract data type · Computer Science · Economic theories and models · Fiscal Policies and Political Economy · Mathematics · Monetary Policy and Economic Impact
Modern Macroeconomics in Practice
Slow Recoveries and Unemployment Traps
Insulation Impossible
Evolution of Modern Business Cycle Models
Tax smoothing and optimal inflation persistence in RBC monetary models revisited
Fiscal Stimulus under Sovereign Risk
Optimal Monetary Policy with Informational Frictions
Interest Rate Cuts versus Stimulus Payments
Capital Taxation and Ownership When Markets Are Incomplete
Optimal Fiscal Consolidation Under Frictional Financial Markets
The Optimum Quantity of Money
Discretion versus policy rules in practice
The Science of Monetary Policy
Staggered prices in a utility-maximizing framework
Optimal fiscal and monetary policy in an economy without capital
An Exploration in the Theory of Optimum Income Taxation
A Note on the Role of Countercyclical Monetary Policy
Aggregate Dynamics and Staggered Contracts
Sticky Prices in the United States
The Role of Countercyclical Monetary Policy
On the Optimality of the Friedman Rule with Heterogeneous Agents and Nonlinear Income Taxation
A Contribution to the Theory of Taxation
| Obras citantes distintas | 10 |
|---|---|
| Citações por ano | 0,5 |
| Intervalo de citações | 2006 - 2024 (19) |
| Velocidade de citação | recent |
| Altamente citado | Não |
| Tipos de citação | Neutras: 9 |