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Monetary Policy Rules and the Effects of Fiscal Policy

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タイトル: Monetary Policy Rules and the Effects of Fiscal Policy
著者: Kudoh, Noritaka 著作を一覧する
Nguyen, Hong Thang 著作を一覧する
キーワード: monetary policy rules
fiscal policy
overlapping generations
発行日: 2010年 2月
出版者: Graduate School of Economics & Business Administration, Hokkaido University
誌名: Discussion Paper, Series A
巻: 220
開始ページ: 1
終了ページ: 25
抄録: We explore the implications of adopting a Taylor-type interest-rate rule in a simple monetary growth model in which budget deficits are financed partly by unbacked government debt. To ensure uniqueness of the steady-state equilibrium, monetary policy cannot be either too "active" or too "passive". The effects of fiscal policy depend crucially on whether monetary policy is active or passive, and are independent of the "tightness" of monetary policy.
資料タイプ: bulletin (article)
出現コレクション:Series A

提供者: 工藤 教孝


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