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.
- Sprache
-
Englisch
- Erschienen in
-
Series: CESifo Working Paper ; No. 4199
- Klassifikation
-
Wirtschaft
Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General
International Finance: General
National Budget, Deficit, and Debt: General
- Thema
-
feedback policy rules
New Keynesian
sovereign premia
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Philippopoulos, Apostolis
Varthalitis, Petros
Vassilatos, Vanghelis
- Ereignis
-
Veröffentlichung
- (wer)
-
Center for Economic Studies and ifo Institute (CESifo)
- (wo)
-
Munich
- (wann)
-
2013
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
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ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Philippopoulos, Apostolis
- Varthalitis, Petros
- Vassilatos, Vanghelis
- Center for Economic Studies and ifo Institute (CESifo)
Entstanden
- 2013
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