Matches in SemOpenAlex for { <https://semopenalex.org/work/W3105638441> ?p ?o ?g. }
Showing items 1 to 65 of
65
with 100 items per page.
- W3105638441 abstract "What does central bank independence imply for the optimal conduct of time-consistent fiscal and monetary policy in a liquidity trap? To provide an answer, I consider a stochastic noncooperative game in which the lower bound on nominal rates is an occasionally binding constraint and in which government debt serves as a tool to influence future policy trade-offs. I show that a transitory consolidation of debt in the liquidity trap optimally reduces expected real rates and stimulates current consumption and inflation via an expectation channel. The reaction function of the independent central bank outside the lower bound is pivotal in obtaining this result - considering instead coordinated policy produces the opposite effect of an optimal increase in debt. Lengthening the debt maturity allows to mitigate issues related to lack of coordination." @default.
- W3105638441 created "2020-11-23" @default.
- W3105638441 creator A5009865472 @default.
- W3105638441 date "2020-11-10" @default.
- W3105638441 modified "2023-09-27" @default.
- W3105638441 title "Fiscal And Monetary Policy Interactions In A Liquidity Trap When Government Debt Matters" @default.
- W3105638441 hasPublicationYear "2020" @default.
- W3105638441 type Work @default.
- W3105638441 sameAs 3105638441 @default.
- W3105638441 citedByCount "0" @default.
- W3105638441 crossrefType "journal-article" @default.
- W3105638441 hasAuthorship W3105638441A5009865472 @default.
- W3105638441 hasConcept C120527767 @default.
- W3105638441 hasConcept C126285488 @default.
- W3105638441 hasConcept C139719470 @default.
- W3105638441 hasConcept C154815372 @default.
- W3105638441 hasConcept C162324750 @default.
- W3105638441 hasConcept C176923680 @default.
- W3105638441 hasConcept C183582576 @default.
- W3105638441 hasConcept C185824701 @default.
- W3105638441 hasConcept C2778489760 @default.
- W3105638441 hasConcept C524878704 @default.
- W3105638441 hasConcept C556758197 @default.
- W3105638441 hasConcept C84888623 @default.
- W3105638441 hasConcept C8573378 @default.
- W3105638441 hasConceptScore W3105638441C120527767 @default.
- W3105638441 hasConceptScore W3105638441C126285488 @default.
- W3105638441 hasConceptScore W3105638441C139719470 @default.
- W3105638441 hasConceptScore W3105638441C154815372 @default.
- W3105638441 hasConceptScore W3105638441C162324750 @default.
- W3105638441 hasConceptScore W3105638441C176923680 @default.
- W3105638441 hasConceptScore W3105638441C183582576 @default.
- W3105638441 hasConceptScore W3105638441C185824701 @default.
- W3105638441 hasConceptScore W3105638441C2778489760 @default.
- W3105638441 hasConceptScore W3105638441C524878704 @default.
- W3105638441 hasConceptScore W3105638441C556758197 @default.
- W3105638441 hasConceptScore W3105638441C84888623 @default.
- W3105638441 hasConceptScore W3105638441C8573378 @default.
- W3105638441 hasLocation W31056384411 @default.
- W3105638441 hasOpenAccess W3105638441 @default.
- W3105638441 hasPrimaryLocation W31056384411 @default.
- W3105638441 hasRelatedWork W1534606162 @default.
- W3105638441 hasRelatedWork W2118798875 @default.
- W3105638441 hasRelatedWork W2192794336 @default.
- W3105638441 hasRelatedWork W2244904030 @default.
- W3105638441 hasRelatedWork W2267252376 @default.
- W3105638441 hasRelatedWork W2323562807 @default.
- W3105638441 hasRelatedWork W2518085309 @default.
- W3105638441 hasRelatedWork W2551892825 @default.
- W3105638441 hasRelatedWork W2885683940 @default.
- W3105638441 hasRelatedWork W2899847393 @default.
- W3105638441 hasRelatedWork W2901276538 @default.
- W3105638441 hasRelatedWork W3009424680 @default.
- W3105638441 hasRelatedWork W3121545996 @default.
- W3105638441 hasRelatedWork W3121650175 @default.
- W3105638441 hasRelatedWork W3122385320 @default.
- W3105638441 hasRelatedWork W3123423542 @default.
- W3105638441 hasRelatedWork W3123627080 @default.
- W3105638441 hasRelatedWork W3124980771 @default.
- W3105638441 hasRelatedWork W3126062482 @default.
- W3105638441 hasRelatedWork W2179869000 @default.
- W3105638441 isParatext "false" @default.
- W3105638441 isRetracted "false" @default.
- W3105638441 magId "3105638441" @default.
- W3105638441 workType "article" @default.