| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP14694 |
| DP14694 Corona Policy According to HANK | |
| Marcus Hagedorn; Kurt Mitman | |
| 发表日期 | 2020-05-02 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | In this note, we analyze the role of the European Central Bank through the lens of the Heterogenous-agent New Keynesian Model (HANK), a new paradigm of fiscal and monetary policy that abandons the assumption of perfectly functioning financial markets. We emphasize three principles that emerge from this view: 1) the effect of fiscal and monetary financing on inflation; 2) the close interaction between fiscal and monetary policy in the determination of inflation; and 3) an economic perspective on Art.123(1) TFEU, the “prohibition of monetary financing.” |
| 主题 | Monetary Economics and Fluctuations |
| 关键词 | Hank Monetary financing inflation Art.123(1) tfeu Fiscal/monetary policy interaction |
| URL | https://cepr.org/publications/dp14694 |
| 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/543611 |
| 推荐引用方式 GB/T 7714 | Marcus Hagedorn,Kurt Mitman. DP14694 Corona Policy According to HANK. 2020. |
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