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1 - 10 van 365 voor policy rules
Microsoft Word - Marattin_Salotti_doc.doc
... differentials is explained by their debt gdp ratio relative to germany. var evidence on fiscal policy's effects on government bonds yields is much more scarce and controversial; furthermore, the few ... on the stock of government liabilities, which again is consistent with the formulation of fiscal policy rules targeting whenever sensitive to the business cycle last period output gap. instead, we allow ...
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mpfs2
... this short span, cuts then must be deep to also achieve standard objectives. keywords monetary policy, financial stability jel classification this paper has benefited from the authors' discussions with gabriele galati, ... busts imf working paper kannan, p., p. rabanal, and a. scott (2009b) monetary and macroprudential policy rules in a model with house price booms imf working paper peek, joe, eric s ...
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Microsoft Word - euroframe2010fiscal4.doc
... deteriorations in response to fiscal loosening are observed in spain, finland, sweden and the uk. policy is tightened in ireland, hungary and greece. figure 3. cumulative impact of fiscal packages on ... rate abroad and rpt is the exchange rate risk premium. interest rates are determined by policy rules adopted by monetary authorities as discussed in barrell, hall and hurst (2006). nominal short ...
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Microsoft Word - Matthieu Sterdyniak.doc
... annual growth target of the lisbon strategy. keywords stability and growth pact, emu, fiscal policy, policy rules, fiscal and monetary coordination jel classification e6 ofce (observatoire francais des conjonctures economiques) 69, ... targeted situation impulse demand inflation output inflation monetary fiscal b c d e f monetary policy r 0.5 note in each country, production is determined by i i iy d ...
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Microsoft Word - 1741.doc
... this question is of particular impor- tance in order to understand the motives behind regional policy of the eu. as no central government of the european union exists, the eu policies ... 2000; hatzipanayotou and michael, 2005). finally, it may be possible that transfers according to regional policy rules represent side payments in the multi-national political bargaining process. our paper also tries ...
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DeHaan.pdf
... ensure fiscal discipline . inman (1996) has identified certain characteristics of successful fiscal policy rules (so-called balanced budget rules, bbrs) at the state level in the us. even though it can ... the model outlined above is that countries will behave differently depending on size.14 fiscal policy decisions depend critically on the perceived size of the penalty for misbehaviour by the standard ...
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welfare economics of planning pdf
... benefit of agi. 3.2 from welfare economic theory to practice what value do the optimal policy rules that we derived in the previous subsection have for land use planning in the real world? clearly, numerous simplifications have been made, that could drive a wedge between optimal policy in theory and practice. this subsection discusses a number of these simplifications, and how relaxing them ...
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E:\MEV 2003\erwin\h2.wpd
... die kans. dit maakt lagere korte rente aannemelijk dan de taylor-regel voorspelt. 1 j.b. taylor, discretion versus policy rules in practice, in a.h. meltzer en c.i. plosser (eds.) carnegie-rochester conference series on public policy, jrg. 39, december 1993, blz. 195-214; ecb maandbericht, problemen verbonden aan monetaire-beleidsregels, oktober 2001, blz. 39-53. ...
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bijz76.pdf
... on state-level tobacco tax policies in the united states. the result is that eu policy towards tobacco taxes and introduction 19 regulation plays an important role in determining the agenda ... taxation might be appropriate under either the inverse-elasticity or corlett-and-hague leisure- complement policy rules? the available evidence on tobacco demand elasticities comes from a range of sources time ...
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Microsoft Word - calibrating macroprudential policy-fin3.doc
... failures. the most toxic combination appears to be the unwinding of a boom characterised by overvalued asset prices and external imbalances, accompanied by a weak banking system. macroprudential policy cannot directly address the macroeconomic imbalances (note that since financial liberalisation, credit is not usually seen as boosting asset prices) but rather can ensure that the banking system is ...
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