Jointly Optimal Monetary and Fiscal Policy Rules under Borrowing Constraints /

Jointly Optimal Monetary and Fiscal Policy Rules under Borrowing Constraints /

We study the welfare properties of an economy where both monetary and fiscal policy follow simple rules, and where a subset of agents is borrowing constrained. The optimized fiscal rule is far more aggressive than automatic stabilizers, and stabilizes the income of borrowingconstrained agents, rathe...

पूर्ण विवरण

ग्रंथसूची विवरण
मुख्य लेखक:	Kumhof, Michael
अन्य लेखक:	Bi, Huixin
स्वरूप:	पत्रिका
भाषा:	English
प्रकाशित:	Washington, D.C. : International Monetary Fund, 2009.
श्रृंखला:	IMF Working Papers; Working Paper ; No. 2009/286
ऑनलाइन पहुंच:	Full text available on IMF

समान संसाधन

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Rules, constraints, and phonological phenomena

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Constraints

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