Essays In Fiscal And Monetary Policy PDF Download
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Author | : Michael J. Artis |
Publisher | : Oxford ; New York : Oxford University Press |
Total Pages | : 232 |
Release | : 1981 |
Genre | : Business & Economics |
ISBN | : |
Download Essays in Fiscal and Monetary Policy Book in PDF, ePub and Kindle
Compilation of essays on design, measurement and effects of fiscal policy and monetary policy in the UK - using econometric models, analyses short term and long term effects in a closed economy, on an open economy under alternative exchange rates, and the assumptions concerning capital flow. Bibliography pp. 186 to 193, graphs, references and statistical tables.
Author | : Jesper Lindé |
Publisher | : |
Total Pages | : 139 |
Release | : 1999 |
Genre | : Fiscal policy |
ISBN | : 9789172585072 |
Download Essays on the effects of fiscal and monetary policy Book in PDF, ePub and Kindle
Author | : Thitima Chucherd |
Publisher | : |
Total Pages | : 474 |
Release | : 2013 |
Genre | : Fiscal policy |
ISBN | : |
Download Essays on Monetary and Fiscal Policy Interactions in Small Open Economies Book in PDF, ePub and Kindle
This thesis addresses interactions between monetary and fiscal policies in a theoretical dynamic stochastic general equilibrium (DSGE) model of a small open economy and in an empirical model under a structural vector error correction model (SVECM). The thesis consists of three essays. The contribution is both theoretical and empirical that enables a better understanding of the complexity of interactions between monetary and fiscal policies in small open economies. The first essay examines the equilibrium determinacy under monetary and fiscal rules. The goal is to investigate how monetary and fiscal policy interactions ensure a unique and non-explosive (determinate) equilibrium for a small open economy. The study focuses when policy makers implement a set of policy mixes to address domestic output price inflation control for monetary policy, debt stabilization for fiscal policy, and joint output stabilization tasks. The result indicates that two policy schemes facilitate a determinate equilibrium. First, monetary policy actively controls inflation when fiscal policy sets a sufficient feedback on debt. Second, monetary policy becomes passive against inflation when fiscal policy is insolvent. Adding output stabilization to each rule simply causes variants of this fundamental. An interest rate rule with output stabilization can be more passive against inflation while providing a stronger response to the output gap. Fiscal policy is required to set higher feedback on debt along with its stronger counter-cyclical policy. The second essay links between the equilibrium determinacy and policy optimization. This essay provides insights into the design of policy mixes and compares determinacy outcomes between two theoretical models of a small open economy: with and without an explicit exchange rate role. This study shows that policy interactions in a small open economy with an endogenous exchange rate is quite sophisticated, especially when a monetary rule is added with an output stabilization task and/or targeted to Consumer Price Index (CPI) inflation. Additional concern for monetary policy in an open economy causes a partial offset to its reaction on domestic output price inflation that weakens its effect on the real debt burden. To minimize economic fluctuations, policy makers should mute the role of output stabilization for monetary policy, and set minimum feedback on debt that is compatible with the degree of counter-cyclical fiscal policy. Substantially active response to inflation is satisfactory for monetary policy with CPI inflation targeting. The third essay empirically presents monetary and fiscal policy interactions in Thailand's SVECM suggested by a theoretical DSGE model developed from the previous essays. This essay shows that the DSGE-SVECM model can be supported by Thai data. A shock to monetary policy is effective with a lag. Government spending policy is also effective with a lag and some crowding-out effects on output. An adverse shock in tax policy unexpectedly stimulates the economy, indicating room for enhancing economic growth by relaxing revenue constraint. Monetary policy is mainly implemented to correct a consequence of a fiscal shock on inflation (and also the domestic and foreign shocks), while fiscal policy appears to counter a consequence of the monetary policy shock on output.
Author | : Miranda S. Goeltom |
Publisher | : Gramedia Pustaka Utama |
Total Pages | : 624 |
Release | : 2007 |
Genre | : Indonesia |
ISBN | : 9789792233391 |
Download Essays in Macroeconomic Policy Book in PDF, ePub and Kindle
Author | : Jonathan A. Rawls |
Publisher | : |
Total Pages | : 0 |
Release | : 2022 |
Genre | : Expenditures, Public |
ISBN | : |
Download Three Essays on Fiscal and Monetary Policy Book in PDF, ePub and Kindle
Author | : Harry Johnson |
Publisher | : Routledge |
Total Pages | : 341 |
Release | : 2013-07-18 |
Genre | : Business & Economics |
ISBN | : 1134623569 |
Download Essays in Monetary Economics (Collected Works of Harry Johnson) Book in PDF, ePub and Kindle
Reprinting the second edition (which included a new introduction explaining developments which had emerged since first publication) this book discusses explorations in the fundamental theory of a monetary economy, a theoretical critique of the ‘Phillips Curve’ approach to the theory of inflation and the theory of the term structure of interest rates in terms of the theory of forward markets pioneered by David Meiselman.
Author | : Richard Abel Musgrave |
Publisher | : |
Total Pages | : 392 |
Release | : 1974 |
Genre | : Business & Economics |
ISBN | : |
Download Public Finance and Stabilization Policy Book in PDF, ePub and Kindle
Author | : J.M. Berk |
Publisher | : Springer Science & Business Media |
Total Pages | : 157 |
Release | : 2013-03-14 |
Genre | : Business & Economics |
ISBN | : 1475734050 |
Download The Preparation of Monetary Policy Book in PDF, ePub and Kindle
Standard macroeconomic monographs often discuss the mechanism of monetary transmission, usually ending by highlighting the complexities and uncertainties involved in this mechanism. Conversely, The Preparation of Monetary Policy takes these uncertainties as a starting point, analytically investigating their nature and spelling out their consequences for the monetary policy maker. The second innovative aspect of this book is its focus on policy preparation instead of well-covered topics such as monetary policy strategy, tactics, and implementation. Thirdly, a general, multi-model framework for preparing monetary policy is proposed, which is illustrated by case studies stressing the role of international economic linkages and of expectations. Written in a self-contained fashion, these case studies are of interest by themselves. The book is written for an audience that is interested in the art and science of monetary policy making, which includes central bankers, academics, and (graduate) students in the field of monetary economics, macroeconomics, international economics and finance.
Author | : Gerald A. Epstein |
Publisher | : Edward Elgar Publishing |
Total Pages | : 391 |
Release | : 2014-07-31 |
Genre | : Business & Economics |
ISBN | : 1783472642 |
Download Banking, Monetary Policy and the Political Economy of Financial Regulation Book in PDF, ePub and Kindle
The many forces that led to the economic crisis of 2008 were in fact identified, analyzed and warned against for many years before the crisis by economist Jane D�Arista, among others. Now, writing in the tradition of D�Arista's extensive work, the
Author | : C.J.M Kool |
Publisher | : Springer Science & Business Media |
Total Pages | : 252 |
Release | : 2012-12-06 |
Genre | : Business & Economics |
ISBN | : 1461312639 |
Download Essays on Money, Banking, and Regulation Book in PDF, ePub and Kindle
Essays on Money, Banking and Regulation honors the interests and achievements of the Dutch economist Conrad Oort. The book is divided into four parts. Part 1 - Fiscal and monetary policy - reviews a variety of topics ranging from the measurement of money to the control and management of government expenditures. Part 2 - International institutions and international economic policy - looks at the international dimension of monetary and fiscal policy, with extensive discussion of the International Monetary Fund and the European Monetary Union. Part 3 - The future of international banking and the financial sector in the Netherlands - is an insider's view of the strategic choices facing financial institutions in the near future. Finally, Part 4 - Taxation and reforms in the Dutch tax system - is closest to Oort's research and practice since he has become known as an architect of the 1990 Dutch tax reform; this part is dedicated in particular to the tax reforms suggested by Oort.