Results 41 to 50 of about 2,336 (200)

Financial Fragility and the Fiscal Multiplier

Journal of Money, Credit and Banking, EarlyView.
Abstract We show that undercapitalized banks with large holdings of government bonds subject to sovereign default risk lead to a new crowding‐out channel: deficit‐financed fiscal stimuli lead to higher bond yields, triggering capital losses for the banks. Banks then cut back loans, which reduces fiscal multipliers.
CHRISTIAAN VAN DER KWAAK, SWEDER VAN WIJNBERGEN   +1 more
wiley   +1 more source

The Regional Keynesian Cross

, 2022
We study monetary policy transmission across space. Empirically, we show that two channels explain a sizable portion of the variation in the regional effects of identified U.S.
Couturier, Adrien, Bellifemine, Marco, Jamilov, Rustam   +2 more
core   +1 more source

Impacts of Regional Integration and Market Liberalization on Bilateral Trade Balances of Selected East African Countries: Potential Implications of the African Continental Free Trade Area

Economies
This study examined the effect of free trade on intra-African bilateral trade balances for Kenya, Rwanda, Uganda, and Tanzania to assess the potential implications of the African Continental Free Trade area. The four countries have experienced persistent
Perez Onono, Francis Omondi, Alice Mwangangi   +2 more
doaj   +1 more source

Monetary Policy When Preferences Are Quasi‐Hyperbolic

Journal of Money, Credit and Banking, EarlyView.
Abstract We study discretionary monetary policy in an economy where economic agents have quasi‐hyperbolic discounting. We demonstrate that a benevolent central bank is able to keep inflation under control for a wide range of discount factors. If the central bank, however, does not adopt the household's time preferences and tries to discourage early ...
RICHARD DENNIS, OLEG KIRSANOV
wiley   +1 more source

Monetary and Macroprudential Policies under Dollar‐Denominated Foreign Debt

Journal of Money, Credit and Banking, EarlyView.
Abstract This paper studies monetary and macroprudential policies in a small open economy that borrows from abroad in foreign currency. The model features a novel mechanism in which exchange rate depreciation triggered by a borrowing constraint is amplified through balance of payments adjustments, increasing the real burden of foreign debt and causing ...
HIDEHIKO MATSUMOTO
wiley   +1 more source

The Small Open-Economy New Keynesian Phillips Curve: Empirical Evidence and Implied Inflation Dynamics [PDF]

This paper applies GMM estimation to assess empirically the small open-economy New Keynesian Phillips Curve derived in Galí and Monacelli (2005). We obtain a testable specification where fluctuations in the terms of trade enter explicitly, thus allowing ...
Alexander Mihailov, Johann Scharler, Fabio Rumler   +2 more
core   +2 more sources

Policy Biases in a Model with Labor‐Market Frictions

Journal of Money, Credit and Banking, EarlyView.
Abstract We develop a model with labor‐market matching frictions that is subject to a range of shocks, including shocks to matching efficiency and bargaining power, and use the model to examine how monetary policy should respond to such shocks. We show that optimal monetary policy responds effectively to these shocks, producing economic outcomes that ...
RICHARD DENNIS, TATIANA KIRSANOVA
wiley   +1 more source

The Landless Rural Workers Movement (MST) and New Agrarian Questions in Brazil

Journal of Agrarian Change, EarlyView.
ABSTRACT The Landless Rural Workers Movement of Brazil (MST) primarily organized occupations of large‐scale farms, forcing the redistribution of land for creation of agrarian reform settlements. In the past 20 years, however, land occupations and the establishment of new agrarian reform settlements have consistently declined, while the MST shifted ...
Estevan Coca, Gustavo de L. T. Oliveira
wiley   +1 more source

Perfect Competition and the Keynesian Cross:Revisiting Tobin [PDF]

I look at an exogenous decrease in the desire to save in a two-sector-two-period overlapping generations model, where the consumption good is capital-intensive and the elasticities of substitution in production are "small".
Partha Sen
core  

Keynesian Theory in "Macroeconomics" Course for non-core faculties

Vestnik MGIMO-Universiteta, 2016
The article deals with the issues related to the teaching of Keynesian theory within the scope of macroeconomics course at the faculties of non-economic professions.
Tatyana Ivanovna Kurnosova, Iskra Evseevna Rudakova   +1 more
doaj   +2 more sources