Essays on Fiscal and Monetary Policy Interactions in a World of Debt

This thesis develops theoretical macroeconomic models that contribute to the policy debate by providing new insights on fiscal-monetary interactions. It is composed of three chapters that emphasise the role of government debt (maturity) in shaping private sector's expectations and in stabilising the macroeconomy. Lees verder

This thesis develops theoretical macroeconomic models that contribute to the policy debate by providing new insights on fiscal-monetary interactions. It is composed of three chapters that emphasise the role of government debt (maturity) in shaping private sector's expectations and in stabilising the macroeconomy.
The first chapter studies the importance of coordination between timeconsistent fiscal and monetary policy for macroeconomic outcomes during a liquidity trap episode. It shows how central bank independence may imply a negative effect of government debt on consumption when the zero lower bound on interest rates is binding. In this context, long-lasting consolidation of debt turns out optimal to keep inflation below target at positive interest rates and lower interest rate expectations.
The second chapter (co-authored with Boris Chafwehé and Rigas Oikonomou) explores the effectiveness of government debt maturity management as an additional margin to stabilise inflation in a world of fiscally dominated monetary policy. A properly tailored maturity portfolio turns out to restore the efficacy of monetary policy under certain conditions about its (optimal) conduct.
The third chapter offers a new insight on deficit-financed fiscal policy in a lowrate environment by considering liquidity traps that are caused by long-lasting shifts in expectations. Fiscal stimuli should include additional measures to contain debt accumulation in this case.


Paperback - In het Engels 18,00 €
PDF - In het Engels - Gratis

InfoVoor meer informatie over BTW en andere belatingsmogelijkheden, zie hieronder "Betaling & BTW".

Gegevens


Uitgever
Presses universitaires de Louvain
Auteur
Charles de Beauffort,
Set
Taal
Engels
BISAC Subject Heading
BUS000000 BUSINESS & ECONOMICS > BUS027000 BUSINESS & ECONOMICS / Finance
BIC subject category (UK)
KF Finance & accounting
Onix Audience Codes
06 Professional and scholarly
CLIL (2013)
3335 Marchés, risque et organisation
Voor het eerst gepubliceerd
07 april 2022

Paperback


Publicatie datum
07 april 2022
ISBN-13
9782390611837
Omvang
Aantal pagina's hoofdinhoud : 218
Code
102914
Formaat
16 x 24 cm
Gewicht
355 grams
Packaging Type
No outer packaging
Aanbevolen verkoopprijs
18,00 €
ONIX XML
Version 2.1, Version 3

PDF


Product Detail
1
Publicatie datum
07 april 2022
Omvang
Absolute page count : 219
Code
PDF102914
ONIX XML
Version 2.1, Version 3

Google Book Preview


Schrijf een reactie