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|z 9781455209439
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|a 1018-5941
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|a BD-DhAAL
|c BD-DhAAL
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|a Yang, Susan.
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|a Monetary and Fiscal Policy Interactions in the Post-war U.S /
|c Susan Yang, Nora Traum.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2010.
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|a 1 online resource (46 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a A New Keynesian model allowing for an active monetary and passive fiscal policy (AMPF) regime and a passive monetary and active fiscal policy (PMAF) regime is fit to various U.S. samples from 1955 to 2007. Data in the pre-Volcker periods strongly prefer an AMPF regime, but the estimation is not very informative about whether the inflation coefficient in the interest rate rule exceeds one in pre-Volcker samples. Also, whether a government spending increase yields positive consumption in a PMAF regime depends on price stickiness. An income tax cut can yield a negative labor response if monetary policy aggressively stabilizes output.
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|a Mode of access: Internet
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|a Traum, Nora.
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|a IMF Working Papers; Working Paper ;
|v No. 2010/243
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2010/243/001.2010.issue-243-en.xml
|z IMF e-Library
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