| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP15199 |
| DP15199 Stabilization vs. Redistribution: the Optimal Monetary-Fiscal Mix | |
| Florin Bilbiie; Tommaso Monacelli; Roberto Perotti | |
| 发表日期 | 2020-08-25 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | Stabilization and redistribution are intertwined in a model with heterogeneity, imperfect insurance, and nominal rigidity---making fiscal and monetary policy inextricably linked for aggregate-demand management. Movements in inequality induced by fiscal transfers make the flexible-price equilibrium suboptimal, thus triggering a stabilization vs redistribution tradeoff. Likewise, changes in government spending that are associated with changes in the distribution of taxes (progressive vs. regressive) induce a tradeoff for monetary policy: the central bank cannot stabilize real activity at its efficient level (including insurance) and simultaneously avoid inflation. Fiscal policy can be used in conjunction to monetary policy to strike the optimal balance between stabilization and insurance (redistribution) motives. |
| 主题 | Monetary Economics and Fluctuations |
| 关键词 | Inequality Redistribution Aggregate demand Fiscal transfers Optimal monetary-fiscal policy Tank |
| URL | https://cepr.org/publications/dp15199-0 |
| 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/544169 |
| 推荐引用方式 GB/T 7714 | Florin Bilbiie,Tommaso Monacelli,Roberto Perotti. DP15199 Stabilization vs. Redistribution: the Optimal Monetary-Fiscal Mix. 2020. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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