Arbeitspapier
Optimal Fiscal Action in an Economy with Sovereign Premia and without Monetary Independence: An Application to Italy
We welfare rank various tax-spending policies. The setup is a New Keynesian model of a semi-small open economy featuring sovereign risk premia and loss of monetary policy independence. The model is calibrated to match data from the Italian economy 2001-2011. We compute various optimized state-contingent tax-spending policy rules when the policy aim is shock stabilization and/or debt consolidation.
- Language
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Englisch
- Bibliographic citation
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Series: CESifo Working Paper ; No. 4199
- Classification
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Wirtschaft
Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General
International Finance: General
National Budget, Deficit, and Debt: General
- Subject
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feedback policy rules
New Keynesian
sovereign premia
- Event
-
Geistige Schöpfung
- (who)
-
Philippopoulos, Apostolis
Varthalitis, Petros
Vassilatos, Vanghelis
- Event
-
Veröffentlichung
- (who)
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Center for Economic Studies and ifo Institute (CESifo)
- (where)
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Munich
- (when)
-
2013
- Handle
- Last update
-
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
- Arbeitspapier
Associated
- Philippopoulos, Apostolis
- Varthalitis, Petros
- Vassilatos, Vanghelis
- Center for Economic Studies and ifo Institute (CESifo)
Time of origin
- 2013
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