| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP2324 |
| DP2324 Inflation Targets and Debt Accumulation in a Monetary Union | |
| Roel Beetsma; Lans Bovenberg | |
| 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 |
| URL | https://cepr.org/publications/dp2324 |
| 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/531415 |
| 推荐引用方式 GB/T 7714 | Roel Beetsma,Lans Bovenberg. DP2324 Inflation Targets and Debt Accumulation in a Monetary Union. 1999. |
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