| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP246 |
| DP246 Monetary Policy and Fiscal Policy: Impact Effects with a New Keynesian `Assignment' of Weapons to Targets | |
| David Vines; James Meade | |
| 发表日期 | 1988-06-01 |
| 出版年 | 1988 |
| 语种 | 英语 |
| 摘要 | This paper considers fiscal and monetary policy in a short-run static macroeconomic model. There are two objectives, control of inflation and control over the growth of national wealth, and a third outcome of importance, a high level of employment. There are two instruments, monetary policy (the short-term interest rate) and fiscal policy (the rate of income tax). The assignment problem considers whether fiscal policy should be used to control inflation, leaving monetary policy to affect the accumulation of wealth, or whether these roles should be reversed. We consider 'pure' and 'mixed' assignments. The analysis shows that the appropriate assignment will depend fundamentally on the relative strengths of demand-pull and cost-push factors in the determination of wages. |
| 主题 | International Macroeconomics |
| 关键词 | Fiscal policy inflation monetary policy National wealth |
| URL | https://cepr.org/publications/dp246 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/529404 |
| 推荐引用方式 GB/T 7714 | David Vines,James Meade. DP246 Monetary Policy and Fiscal Policy: Impact Effects with a New Keynesian `Assignment' of Weapons to Targets. 1988. |
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