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The Stability and Growth Pact neglects the policy mix between fiscal and monetary policy

โœ Scribed by Peter Bofinger


Publisher
Springer-Verlag
Year
2003
Tongue
English
Weight
369 KB
Volume
38
Category
Article
ISSN
0020-5346

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Imperfect price adjustment and the optim
โœ Mark Gertler ๐Ÿ“‚ Article ๐Ÿ“… 1979 ๐Ÿ› Elsevier Science ๐ŸŒ English โš– 822 KB

The paper considers the coordination of monetary and fiscal policy for a closed economy with the following properties: a Keynesian short-run, a classical steady state and serially cori'elated price adjustment. Given a set of plausible targets, the system is perfectly controllable in the sense of Aok