Results 31 to 40 of about 72,028 (44)
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Fiscal and Monetary Policy Interactions in a Model with Low Interest Rates
American Economic Journal: MacroeconomicsWe provide a new Keynesian model where entrepreneurs face uninsurable idiosyncratic investment risk and credit constraints. Government bonds provide liquidity services.
Jianjun Miao, Dongling Su
semanticscholar +1 more source
A Note Concerning the Dynamics of Government Bond Yields
, 2021Keynes argued that the central bank can influence the long-term interest rate on government bonds and the shape of the yield curve mainly through the short-term interest rate.
Tanweer Akram
semanticscholar +1 more source
US Treasury Auctions: A High-Frequency Identification of Supply Shocks
American Economic Journal: MacroeconomicsWe identify Treasury supply shocks using auction data, interpreting changes in futures prices around announcements as shocks to expected supply. We isolate the component of futures price variations pertaining to US Treasury announcements between 1998 and
Maxime Phillot
semanticscholar +1 more source
Do SMEs Benefit from Unconventional Monetary Policy and How? Microevidence from the Eurozone
Journal of Money, Credit and Banking, 2018We study the impact of the announcement of the ECB’s Outright Monetary Transactions Program on small firms’ access to finance using a matched firm-bank dataset from eight Eurozone countries. We find that following the announcement, credit access improved
Annalisa Ferrando +2 more
semanticscholar +1 more source
IgMin Research
Risk is a variation of performance in the presence of events and it can negatively impact socioeconomic system of countries. Statistical evidence here shows that high public debt reduces health expenditures over time and increases the vulnerability and ...
Coccia Mario
semanticscholar +1 more source
Risk is a variation of performance in the presence of events and it can negatively impact socioeconomic system of countries. Statistical evidence here shows that high public debt reduces health expenditures over time and increases the vulnerability and ...
Coccia Mario
semanticscholar +1 more source
Micro Risks and (Robust) Pareto-Improving Policies
The American Economic ReviewWe provide conditions for the feasibility of robust Pareto-improving (RPI) policies when markets are incomplete and the interest rate is below the growth rate.
Mark Aguiar, M. Amador, C. Arellano
semanticscholar +1 more source
Sticky Spending, Sequestration, and Government Debt
The American Economic ReviewOnce established, government spending programs tend to continue. A commonly held view is that spending inertia leads to unsustainable debt, ultimately requiring fiscal adjustments such as “sequestration.” We show that by insuring against political ...
F. Piguillem, Alessandro Riboni
semanticscholar +1 more source
Measuring Tax Multipliers: The Narrative Method in Fiscal VARs †
, 2012This paper argues in favor of empirical models built by including in fiscal VAR models structural shocks identified via the narrative method. We first show that "narrative" shocks are orthogonal to the relevant information set a fiscal VAR.
Carlo A. Favero, F. Giavazzi
semanticscholar +1 more source
How Does Public Debt Affect the Indian Macroeconomy? A Structural VAR Approach
, 2020The study investigates the macroeconomic effects of public debt in India during 1980–2017 using a structural vector autoregression framework. The objective is to examine the impact of public debt on the interest rate, investment, inflation and economic ...
R. Mohanty, Sidheswar Panda
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Borrowing Costs After Sovereign Debt Relief
American Economic Journal: Economic Policy, 2020Can debt moratoria help countries weather negative shocks? We exploit the Debt Service Suspension Initiative (DSSI) to study the bond market effects of deferring official debt repayments.
Valentin F. Lang +2 more
semanticscholar +1 more source