Matches in SemOpenAlex for { <https://semopenalex.org/work/W2053205040> ?p ?o ?g. }
Showing items 1 to 100 of
100
with 100 items per page.
- W2053205040 abstract "The potential importance of fiscal policy in influencing inflation has recently been highlighted, following Woodford (1995), under the heading of the 'Fiscal Theory of the Price Level' (FTPL). Applications of this theory to open economies operating under flexible exchange rates has suggested that, in contrast to the closed economy FTPL, insolvent fiscal policy may lead to indeterminacy of price levels and nominal exchange rates. In this paper, we relax the assumptions underpinning the FTPL by developing a two country open economy model, where each country has overlapping generations of non-Ricardian consumers who supply labour to imperfectly competitive firms which can only change their prices infrequently. We examine the case where the two countries have independent monetary and fiscal policies. We show that the fiscal response required to ensure stability of the real debt stock, and allow each country to operate an 'active' inflation-targeting monetary policy is greater when consumers are not infinitely lived. One monetary authority can abandon its active targeting of inflation to stabilise the debt of another fiscal authority, and there is no requirement that these policy makers operate in the same economy. Finally, in a series of simulations we show that fiscal shocks have limited impact on output and inflation provided the fiscal authorities meet the (weak) requirements of fiscal solvency. However, when one or more monetary authority is forced to abandon its active targeting of inflation, then fiscal shocks have a much greater impact on both output and inflation." @default.
- W2053205040 created "2016-06-24" @default.
- W2053205040 creator A5018411359 @default.
- W2053205040 creator A5024645713 @default.
- W2053205040 date "2002-01-01" @default.
- W2053205040 modified "2023-09-28" @default.
- W2053205040 title "Interactions Between Monetary and Fiscal Policy Under Flexible Exchange Rates" @default.
- W2053205040 cites W1501428352 @default.
- W2053205040 cites W1536701088 @default.
- W2053205040 cites W1582134304 @default.
- W2053205040 cites W1965253440 @default.
- W2053205040 cites W1976041444 @default.
- W2053205040 cites W1976140283 @default.
- W2053205040 cites W1983368736 @default.
- W2053205040 cites W1999167388 @default.
- W2053205040 cites W2012926831 @default.
- W2053205040 cites W2023608452 @default.
- W2053205040 cites W2115370555 @default.
- W2053205040 cites W2122659927 @default.
- W2053205040 cites W2122883083 @default.
- W2053205040 cites W2124694405 @default.
- W2053205040 cites W2132599599 @default.
- W2053205040 cites W2132728611 @default.
- W2053205040 cites W2136345611 @default.
- W2053205040 cites W2140898820 @default.
- W2053205040 cites W2786103164 @default.
- W2053205040 cites W2890911258 @default.
- W2053205040 cites W3121836009 @default.
- W2053205040 cites W3122708015 @default.
- W2053205040 cites W3122797920 @default.
- W2053205040 cites W3125032643 @default.
- W2053205040 cites W3125192006 @default.
- W2053205040 cites W3125613595 @default.
- W2053205040 cites W3125902793 @default.
- W2053205040 cites W3144685371 @default.
- W2053205040 cites W3145188976 @default.
- W2053205040 cites W1995278743 @default.
- W2053205040 hasPublicationYear "2002" @default.
- W2053205040 type Work @default.
- W2053205040 sameAs 2053205040 @default.
- W2053205040 citedByCount "2" @default.
- W2053205040 countsByYear W20532050402012 @default.
- W2053205040 crossrefType "posted-content" @default.
- W2053205040 hasAuthorship W2053205040A5018411359 @default.
- W2053205040 hasAuthorship W2053205040A5024645713 @default.
- W2053205040 hasConcept C120527767 @default.
- W2053205040 hasConcept C121332964 @default.
- W2053205040 hasConcept C126285488 @default.
- W2053205040 hasConcept C139719470 @default.
- W2053205040 hasConcept C162324750 @default.
- W2053205040 hasConcept C183582576 @default.
- W2053205040 hasConcept C185824701 @default.
- W2053205040 hasConcept C200941418 @default.
- W2053205040 hasConcept C2776988154 @default.
- W2053205040 hasConcept C2777883944 @default.
- W2053205040 hasConcept C2778215004 @default.
- W2053205040 hasConcept C33332235 @default.
- W2053205040 hasConcept C524878704 @default.
- W2053205040 hasConcept C556758197 @default.
- W2053205040 hasConceptScore W2053205040C120527767 @default.
- W2053205040 hasConceptScore W2053205040C121332964 @default.
- W2053205040 hasConceptScore W2053205040C126285488 @default.
- W2053205040 hasConceptScore W2053205040C139719470 @default.
- W2053205040 hasConceptScore W2053205040C162324750 @default.
- W2053205040 hasConceptScore W2053205040C183582576 @default.
- W2053205040 hasConceptScore W2053205040C185824701 @default.
- W2053205040 hasConceptScore W2053205040C200941418 @default.
- W2053205040 hasConceptScore W2053205040C2776988154 @default.
- W2053205040 hasConceptScore W2053205040C2777883944 @default.
- W2053205040 hasConceptScore W2053205040C2778215004 @default.
- W2053205040 hasConceptScore W2053205040C33332235 @default.
- W2053205040 hasConceptScore W2053205040C524878704 @default.
- W2053205040 hasConceptScore W2053205040C556758197 @default.
- W2053205040 hasLocation W20532050401 @default.
- W2053205040 hasOpenAccess W2053205040 @default.
- W2053205040 hasPrimaryLocation W20532050401 @default.
- W2053205040 hasRelatedWork W1546281258 @default.
- W2053205040 hasRelatedWork W1551442414 @default.
- W2053205040 hasRelatedWork W1569578531 @default.
- W2053205040 hasRelatedWork W1598792063 @default.
- W2053205040 hasRelatedWork W2064205786 @default.
- W2053205040 hasRelatedWork W2101727410 @default.
- W2053205040 hasRelatedWork W2136345611 @default.
- W2053205040 hasRelatedWork W2147088364 @default.
- W2053205040 hasRelatedWork W2169721240 @default.
- W2053205040 hasRelatedWork W2275734724 @default.
- W2053205040 hasRelatedWork W2498864729 @default.
- W2053205040 hasRelatedWork W2897447286 @default.
- W2053205040 hasRelatedWork W2945599308 @default.
- W2053205040 hasRelatedWork W3088699503 @default.
- W2053205040 hasRelatedWork W3121967893 @default.
- W2053205040 hasRelatedWork W3122708015 @default.
- W2053205040 hasRelatedWork W3123960621 @default.
- W2053205040 hasRelatedWork W3125402548 @default.
- W2053205040 hasRelatedWork W3125518596 @default.
- W2053205040 hasRelatedWork W3195751183 @default.
- W2053205040 isParatext "false" @default.
- W2053205040 isRetracted "false" @default.
- W2053205040 magId "2053205040" @default.
- W2053205040 workType "article" @default.