Monetary-fiscal policy interactions under implementable monetary policy rules

被引：10

作者：

Branch, William A. ^{[1
]}

Davig, Troy

McGough, Bruce ^{[2
]}

机构：

[1] Univ Calif Irvine, Dept Econ, Irvine, CA 92717 USA

[2] Oregon State Univ, Dept Econ, Corvallis, OR 97331 USA

来源：

JOURNAL OF MONEY CREDIT AND BANKING | 2008年 / 40卷 / 05期

关键词：

Taylor rules; fiscal theory; rational expectations; determinacy;

D O I：

10.1111/j.1538-4616.2008.00149.x

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This paper examines the implications of forward- and backward-looking monetary policy rules in an environment with monetary-fiscal interactions. We find that the unique stationary rational expectations equilibrium (REE) is always non-Ricardian under simple implementable monetary policy rules.

引用

页码：1095 / 1102

页数：8

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