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- W3147981848 abstract "Stabilization and redistribution are intertwined in a model with heterogeneity, imperfect insurance, and nominal rigidity---making fiscal and monetary policy inextricably linked. Changes in government spending that are associated with changes in the distribution of taxes (progressive vs. regressive) induce a tradeoff for monetary policy: the central bank cannot stabilize real activity at its efficient level (including insurance) and simultaneously avoid inflation. Fiscal policy can be used in conjunction to monetary policy to strike the optimal balance between stabilization and insurance (redistribution) motives." @default.
- W3147981848 created "2021-04-13" @default.
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- W3147981848 date "2020-08-01" @default.
- W3147981848 modified "2023-09-25" @default.
- W3147981848 title "Stabilization vs. Redistribution: the Optimal Monetary-Fiscal Mix" @default.
- W3147981848 hasPublicationYear "2020" @default.
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