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• W2098738866 abstract "The paper offers a schematic game theoretic approach to thinking about medium‐term strategic interactions between monetary and fiscal policy. We show that under some circumstances fiscal excesses may spill over to monetary policy, but a legislated commitment to a numerical inflation target can sometimes prevent this through providing the central bank with ammunition to counter‐act excessive fiscal actions. As such, a more explicit monetary commitment may have a ‘disciplining effect’ on fiscal policy, and improve fiscal outcomes as well as monetary outcomes. We present some empirical evidence for this finding." @default.
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• W2098738866 date "2011-03-01" @default.
• W2098738866 modified "2023-10-16" @default.
• W2098738866 title "The Big Picture of Monetary-Fiscal Interactions*" @default.
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• W2098738866 doi "https://doi.org/10.1111/j.1759-3441.2011.00105.x" @default.
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