G2TT
来源类型Discussion paper
规范类型论文
来源IDDP2312
DP2312 Geography of the Family
Kjell Erik Lommerud; Kai Konrad; Julio R Robledo; Harald Künemund
发表日期1999-12-17
出版年1999
语种英语
摘要This paper explores the interaction between centralized monetary policy and decentralized fiscal policy in a monetary union. Discretionary monetary policy suffers from a failure to commit. Moreover, decentralized fiscal policymakers impose externalities on each other through the influence of their debt policies on the common monetary policy. These imperfections can be alleviated by adopting state-contingent inflation targets (to combat the monetary policy commitment problem) and shock-contingent debt targets (to internalize the externalities due to decentralized fiscal policy).
主题International Macroeconomics
关键词Debt targets Decentralized fiscal policy Discretionary monetary policy Inflation targets Monetary union
URLhttps://cepr.org/publications/dp2312
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/531403
推荐引用方式
GB/T 7714
Kjell Erik Lommerud,Kai Konrad,Julio R Robledo,et al. DP2312 Geography of the Family. 1999.
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