fb4a2eb5a014d323cc818748c468cea8  ameecojou_a2013v5n2p187iENG.pdf
4028a3549e78608ffdb40b7075f525e2c7689edc  ameecojou_a2013v5n2p187iENG.pdf
0deea3f021d0d1f9d0220eca3ab2654e30717a718560cb0303e0e30f2ef9e212  ameecojou_a2013v5n2p187iENG.pdf

Title:          Monetary Commitment and Fiscal Discretion: The Optimal Policy Mix
Subject:        We study a noncooperative policy game between monetary and fiscal policy, where only monetary policy can commit to future actions. The equilibrium outcome of the game depends on the strategies available to the monetary policymaker. If strategies are left unrestricted, the central bank can alter the incentives of the fiscal authority in a way that replicates the full commitment solution. If the central bank cannot commit to respond to fiscal policy, the fiscal authority generates fluctuations in government expenditure that undermine the stabilization goals of the central bank. (JEL E12, E23, E31, E52, E58, E62)
Author:         Stefano Gnocchi
Creator:        PDFplus
Producer:       Atypon Systems, Inc.
CreationDate:   Wed Mar 20 15:16:09 2013 CET
ModDate:        Thu Mar 28 20:04:00 2019 CET
Tagged:         no
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JavaScript:     no
Pages:          30
Encrypted:      no
Page size:      486 x 702 pts
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File size:      1070970 bytes
Optimized:      yes
PDF version:    1.6

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Jhove (Rel. 1.6, 2011-01-04)
 Date: 2019-03-29 04:56:11 CET
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