Results 101 to 110 of about 229 (205)
Fiscal dominance in India: an empirical estimation. [PDF]
Kamila A.
europepmc +1 more source
ABSTRACT This paper explores the limits of mission‐directed entrepreneurial states by drawing on the theory of recombinant innovation and F.A. Hayek's insights on the spontaneous growth of knowledge in society. First, the use of discretionary policymaking curtails the range of knowledge generated in the process of social interaction, limiting the scope
Bryan Cheang, Praharsh Mehrotra
wiley +1 more source
Does Openness Amplify Money‐Financed Fiscal Stimulus? A Fiscal Theory Perspective
ABSTRACT Does economic openness enhance or diminish the effectiveness of money‐financed (MF) fiscal stimulus? This study re‐examines this question within a small open economy framework, emphasizing the fiscal regime governing government debt valuation. While the authors of an earlier study show that MF fiscal expansions generate larger output responses
Eiji Okano, Chikafumi Nakamura
wiley +1 more source
Trend Inflation and the Costs of Price Dispersion in a Fiscal DSGE Model
ABSTRACT Most inflation‐targeting frameworks allow for a positive trend inflation rate, yet its optimal level remains uncertain. The extended deliberation in South Africa to move from a 3%–6% target band to a 3% target (with a 1% tolerance band) illustrates this tension.
Clinton Joel, Hylton Hollander
wiley +1 more source
Monetary–Fiscal Coordination in South Africa: Aligning the Stars
ABSTRACT Monetary–fiscal policy tensions build‐up when debt is rising and inflation is falling. We introduce the concept of a fiscal‐neutral rate (fiscal r‐star) into a two‐agent new Keynesian dynamic stochastic general equilibrium model estimated with South African data.
Roy Havemann, Hylton Hollander
wiley +1 more source
DSGE Model Forecasting: Rational Expectations Versus Adaptive Learning
ABSTRACT This paper compares within‐sample and out‐of‐sample fit of a DSGE model with rational expectations to a model with adaptive learning. The Galí, Smets, and Wouters model is the chosen laboratory using quarterly real‐time euro area data vintages, covering 2001Q1–2019Q4.
Anders Warne
wiley +1 more source
Economic Recovery in the Age of COVID-19. [PDF]
Skidelsky R.
europepmc +1 more source
Public Intellectuals in Digital and Global Times: the Case of Project Syndicate. [PDF]
Basaure M, Joignant A, Théodore R.
europepmc +1 more source
Cash Heterogeneity and the Payout Channel of Monetary Policy
ABSTRACT This paper provides novel empirical evidence that cash‐rich firms have higher equity payouts and higher stock prices in response to expansionary monetary policy surprises. Stock prices rise despite weak cash‐flow, investment, and credit responses to monetary policy.
ALTAN PAZARBAŞI
wiley +1 more source
The Evolution of Principles of Economics: A Comprehensive Journey Through Health Economics for Public Health Practitioners and Researchers. [PDF]
Jyani G, Prinja S.
europepmc +1 more source

