Monetary-fiscal policy interactions under implementable monetary policy rules

被引：10
|
作者：
Branch, William A. [1 ]
Davig, Troy
McGough, Bruce [2 ]
机构：
[1] Univ Calif Irvine, Dept Econ, Irvine, CA 92717 USA
[2] Oregon State Univ, Dept Econ, Corvallis, OR 97331 USA
来源：
JOURNAL OF MONEY CREDIT AND BANKING | 2008年 / 40卷 / 05期
关键词：
Taylor rules; fiscal theory; rational expectations; determinacy;
D O I：
10.1111/j.1538-4616.2008.00149.x
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
This paper examines the implications of forward- and backward-looking monetary policy rules in an environment with monetary-fiscal interactions. We find that the unique stationary rational expectations equilibrium (REE) is always non-Ricardian under simple implementable monetary policy rules.
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页码：1095 / 1102
页数：8
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