Konferenzbeitrag
Monetary and Fiscal Policy in a Monetary Union under the Zero Lower Bound constraint
This paper explicitly models strategic interaction between two independent national fiscal authorities and a single central bank in a simple New Keynesian model of a monetary union. Monetary policy is constrained by the zero lower bound on nominal interest rates. Coordination of fiscal policies does not always lead to the best welfare effects. It depends on the nature of the shocks whether governments prefer to coordinate or not coordinate. The size of the government multipliers depend on the combination of the intraunion competitiveness parameters. They get larger in case of implementation lags of fiscal policy.
- Language
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Englisch
- Bibliographic citation
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Series: Beiträge zur Jahrestagung des Vereins für Socialpolitik 2012: Neue Wege und Herausforderungen für den Arbeitsmarkt des 21. Jahrhunderts - Session: Monetary Policy ; No. E17-V3
- Classification
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Wirtschaft
Monetary Policy
Policy Objectives; Policy Designs and Consistency; Policy Coordination
Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization; Treasury Policy
- Event
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Geistige Schöpfung
- (who)
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Flotho, Stefanie
- Event
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Veröffentlichung
- (when)
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2012
- Handle
- Last update
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10.03.2025, 11:44 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Konferenzbeitrag
Associated
- Flotho, Stefanie
Time of origin
- 2012
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Implications of Shadow Bank Regulation for Monetary Policy at the Zero Lower Bounds
Monetary and fiscal policy in monetary union under the zero lower bound constraint
Monetary policy at the zero lower bound
Monetary policy lag, zero lower bound, and inflation targeting
Risk management for monetary policy near the zero lower bound
International housing markets, unconventional monetary policy and the zero lower bound
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Animal spirits, risk premia and monetary policy at the zero lower bound
Discretionary monetary policy and the zero lower bound on nominal interest rates
The interdependence of monetary and macroprudential policy under the zero lower bound
Essays on the challenges of monetary policy at the zero lower bound
Discretionary monetary policy and the zero lower bound on nominal interest rates