Results 61 to 70 of about 229 (205)
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
wiley +1 more source
The contributions of women to Post-Keynesian Economics and Post-Keynesian Institutionalism
Post-Keynesian Economics is a heterodox school of thought founded by a woman, Joan Robinson. However, the significant contributions of women economists to this school are often overlooked. Furthermore, its theory of monetary production does not easily accommodate topics that place women at the centre of inquiry.
openaire +2 more sources
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 +2 more
wiley +1 more source
Towards an institutional "landscape" view of modern money creation mechanisms and some reflections on their ecological significance. [PDF]
Sustain Sci, 2023 Hook A.
europepmc +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
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 Welfare and Distributional Consequences of Corporate Tax Cuts in Open Economies
Journal of Money, Credit and Banking, EarlyView.Abstract We develop an open‐economy heterogeneous household model with incomplete markets to quantitatively evaluate the welfare and distributional effects—both within and across countries—of the corporate tax cut (Tax Cuts and Jobs Act, TCJA) implemented in the U.S. in 2017. The model allows for examining outcomes under various possibilities including
MAMOON KADER +3 more
wiley +1 more source
Journal of Agrarian Change, EarlyView.ABSTRACT Every winter, Delhi's polluted air draws national attention to the burning of rice stubble in neighbouring states. Drawing on ethnographic fieldwork in Haryana in north India, this article shows how bureaucrats and scientists attempt to enact certainty around technological solutions to stubble burning even while privately acknowledging their ...
Nikhit Agrawal
wiley +1 more source
Social policy in the face of a global pandemic: Policy responses to the COVID-19 crisis. [PDF]
Soc Policy Adm, 2021 Béland D +3 more
europepmc +1 more source
Journal of Economic Surveys, EarlyView.ABSTRACT The post‐pandemic inflationary spike brought inflation back to the forefront of academic research. In the debate about the origin and nature of the 2020s inflation, economists have been divided into the following two main camps: the demand‐pull camp, which attributed inflation to excess demand and linked it to fiscal and monetary stimulus put ...
Vicente Ferreira
wiley +1 more source