Simple Monetary Rules Under Fiscal Dominance /

Is aggressive monetary policy response to inflation feasible in countries that suffer from fiscal dominance? We find that if nominal interest rates are allowed to respond to government debt, even aggressive rules that satisfy the Taylor principle can produce unique equilibria. However, resulting inf...

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書目詳細資料
主要作者: Kumhof, Michael
其他作者: Nunes, Ricardo, Yakadina, Irina
格式: 雜誌
語言:English
出版: Washington, D.C. : International Monetary Fund, 2007.
叢編:IMF Working Papers; Working Paper ; No. 2007/271
在線閱讀:Full text available on IMF