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Optimal Fiscal and Monetary Policy When Money is Essential
Friedman Rule intertemporal distortions micro-founded models of money
2015/9/18
We study optimal fiscal and monetary policy in an environment where explicit frictions giverise to valued money, making money essential in the sense that it expands the set of feasible trades. The two...
Fiscal and monetary policy in a commodity-based economy
Fiscal and monetary policy South Africa
2011/8/21
A rough description of macroeconomic policy in South Africa would be that monetary policy concentrates on building nominal credibility through focusing on inflation, while the brunt of the responsibil...
DEBT AND SYSTEMIC RISK: THE CONTRIBUTION OF FISCAL AND MONETARY POLICY
fiscal and monetary policy inherent risk real estate market
2011/8/21
This article discusses the contribution of fiscal and monetary policy to the accumulation of excessive debt and its inherent risk. According to economists Carmen Reinhart and Ken Rogoff, excessive deb...