Results 61 to 70 of about 336 (199)

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

Convergenze, divergenze e riallineamenti nella teorica macroeconomica inglese. (Convergence, divergence and realignment in British macroeconomics)

Moneta e Credito, 2013
In questo lavoro l' autore sostiene che le distinzione ancora frequente e semplicistica tra keynesiani e monetaristi che costituisce gran parte del popolare dibattito economico britannico è diventata gravemente fuorviante .
D. COBHAM
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

Keynesian theories of investment: neo-, post-, and new

Brazilian Journal of Political Economy
The general objective of this piece is to analyze the formulations developed by three interpretative strands of Keynes’ investment theory, specifically with regard to the interrelationships between real and monetary-financial variables.
STEVEN FAZZARI
doaj   +1 more source

Old-Keynesianism in the New Keynesian Model

De Economist
AbstractI investigate an ‘old Keynesian’ fiscal policy in which government spending endogenously responds to inflation and the output gap when the nominal interest rate is pegged at the ZLB. I do so within a standard Representative Agent New Keynesian model (RANK), as well as a two-period Overlapping Generations New Keynesian model (OLG-NK).
openaire   +3 more sources

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, JULIO GARÍN, ROBERT LESTER   +2 more
wiley   +1 more source

The Two Main Macroeconomic Theories of Keynes and Friedman and Their Use in the Economic Policy of the World's Major Countries and Russia. [PDF]

Stud Russ Econ Dev, 2022
Aganbegyan AG.
europepmc   +1 more source

Interest Rate Pegs and the Reversal Puzzle: On the Role of Anticipation

Journal of Money, Credit and Banking, EarlyView.
Abstract We revisit the reversal puzzle: a counterintuitive contraction of inflation in response to an interest rate peg. We show that its occurrence is intimately related to the degree of agents' anticipation. If agents perfectly anticipate the peg, reversals occur depending on the duration of the peg.
RAFAEL GERKE, SEBASTIAN GIESEN, DANIEL KIENZLER   +2 more
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 Social and Economic Consequences of US Militarism

Revue LISA, 2013
This article reviews the forms of US militarism as they have evolved since Eisenhower’s famous 1961 speech and presents the deleterious effects military spending has on the social and economic well-being of the United States.
Pierre Guerlain
doaj   +1 more source