Optimal Monetary and Fiscal Policy with Limited Asset Market Participation /
This paper characterises the jointly optimal monetary and fiscal stabilisation policy in a new Keynesian model that allows for consumers who lacking access to asset markets consume their disposable income each period. With full asset market participation, the optimal policy relies entirely on the in...
| Главный автор: | |
|---|---|
| Формат: | Журнал |
| Язык: | English |
| Опубликовано: |
Washington, D.C. :
International Monetary Fund,
2009.
|
| Серии: | IMF Working Papers; Working Paper ;
No. 2009/137 |
| Online-ссылка: | Full text available on IMF |