Results 51 to 60 of about 684,740 (308)
Generalizing Determinacy under Monetary and Fiscal Policy Switches: The Case of the Zero Lower Bound
Journal of Money, Credit and Banking, EarlyView.Abstract In a fixed‐regime context, it has been established since the work of Leeper (1991) that a determinate and unique equilibrium can be achieved under both monetary dominance (characterized by an active monetary policy and a passive fiscal policy) and fiscal dominance (characterized by an active fiscal policy and a passive monetary policy) regimes
SEONGHOON CHO, ANTONIO MORENO
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PSL Quarterly Review, 2012 The first article published by Franco Modigliani has become one of the basic texts of the modern Keynesian economics. It formalized the model (or at least one model) implicit in the General Theory.
Robert M. Solow
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Monetary Policy and Government Debt
Journal of Money, Credit and Banking, EarlyView.Abstract We study how the level of government debt affects the effectiveness of monetary policy, that is, the elasticity of economic aggregates to interest rate changes. We build a New Keynesian model where fiscal policy is non‐Ricardian and government debt is risk‐free.
NICOLAS CARAMP, ETHAN FEILICH
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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 +1 more
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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
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Moneta e CreditoRecensione a: Lavoie M. (2022), Post-Keynesian Economics – New Foundations, 2a edizione, Cheltenham (UK) e Northampton (MA, USA): Edward Elgar.
Sergio Cesaratto
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KEYNESIAN THEORY IN THE ”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.
T. I. Kurnosova, I. E. Rudakova
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Review of Keynesian Economics, 2019 This paper provides a critique of zero lower bound (ZLB) economics which has become the new orthodoxy for explaining stagnation. ZLB economics is an extension of pre-Keynesian economics which attributes macroeconomic dysfunction to rigidities and market ...
T. Palley
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Does the Phillips Curve Lie Down as We Age?
Journal of Money, Credit and Banking, EarlyView.Abstract Using microlevel data, we present evidence that older individuals are less willing to substitute across varieties of goods. We estimate the elasticity of substitution for different age groups and find that the youngest cohort (aged 25–34) exhibits a higher elasticity of substitution compared to the oldest group (65+).
CHADWICK CURTIS +2 more
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The Attempt to Revitalize Keynes' Theory
Theory, Methodology, Practice, 2002 The article gives a summary of the renewal attempts of the only, through decades dominant general economic theory, the Keynesian economics. Because of the lack of microeconomic bases and the changes happened on the commodity-, labour-, and money markets
Zsuzsa Ortutay
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