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The Return of Fiscal Policy and the Euro Area Fiscal Rule. [PDF]
Comp Econ Stud, 2020 The text describes the theoretical developments of the assignment rules regarding fiscal and monetary policies and the respective roles in macroeconomics stabilisation.
Constâncio V.
europepmc +3 more sources
Elections, Fiscal Policy and Fiscal Illusion [PDF]
SSRN Electronic Journal, 2010 This paper tests the joint hypotheses that policymakers engage in fiscal policy opportunism and that voters respond by rewarding that opportunism with higher vote margins.
Linda Gonçalves Veiga +1 more
core +4 more sources
"Japanese Fiscal Reform: Fiscal Reconstruction and Fiscal Policy" [PDF]
Japan and the World Economy, 2001 This paper evaluates the recent movement of Japanese fiscal reform. We first summarize fiscal policy in 1990s. Then, we investigate several relevant topics of fiscal policy such as the macroeconomic impact of government debt and the ustainability problem.
Hiroki Kondo +2 more
core +2 more sources
Reinventing Fiscal Policy [PDF]
SSRN Electronic Journal, 2003 Recent developments in macroeconomic policy, in terms of both theory and practice, have elevated monetary policy while downgrading fiscal policy. Monetary policy has focused on the setting of interest rates as the key policy instrument, along with the adoption of inflation targets and the use of monetary policy to target inflation.
Philip Arestis, Malcolm Sawyer
openaire +4 more sources
Economic Outlook, 2014 Although the economic recovery is steadily being reflected in an improvement in the fiscal numbers, the UK is still only half‐way though the Government's planned fiscal austerity. But whether the spending cuts that are still to come are really deliverable remains questionable…
James E. Alt +2 more
+5 more sources
European Economic Review, 2016 Abstract This paper investigates the macroeconomic effects of fiscal policy in a setting in which private agents receive noisy signals about future shocks to government expenditures. We show how to empirically identify the relative weight of news and noise shocks to government spending and compute the level of noise for Canada, the UK and the US.
Fève, Patrick, Pietrunti, Mario
openaire +3 more sources
SSRN Electronic Journal, 2013 This paper derives and estimates rules for fiscal policy that prescribe the optimal response to changes in unemployment and debt. We combine the reduced-form model of the economy from a linear VAR with a non-linear welfare function and obtain analytic solutions for optimal policy.
Lukkezen, J., Teulings, C.
openaire +7 more sources
Fiscal Stabilisation Policy and Fiscal Institutions [PDF]
SSRN Electronic Journal, 2006 In this paper we analyse counter-cyclical fiscal policy within the context of a microfounded analysis of business-cycle stabilization. We show that tax and spending instruments can have a useful counter-cyclical role, even after allowing for the distortionary nature of the instruments and the need for debt sustainability.
Campbell Leith, Simon Wren-lewis
openaire +2 more sources
Japan's fiscal policy and fiscal reconstruction [PDF]
International Economics and Economic Policy, 2005 This paper investigates the macroeconomic effects of fiscal policy and the fiscal reconstruction movement in Japan. We first summarize Japan's fiscal policy in recent years and discuss advantages and disadvantages of government deficits. Next, we investigate the macroeconomic effects of Japanese fiscal policy and evaluate the plausibility of non ...
Toshihiro Ihori, Atsushi Nakamoto
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Monetary-Fiscal Policy Interactions and Fiscal Stimulus [PDF]
SSRN Electronic Journal, 2009 Increases in government spending trigger substitution effects — both inter- and intra-temporal — and a wealth effect. The ultimate impacts on the economy hinge on current and expected monetary and fiscal policy behavior. Studies that impose active monetary policy and passive fiscal policy typically find that government consumption crowds out private ...
Davig, Troy, Leeper, Eric M.
openaire +5 more sources