Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/284188 
Erscheinungsjahr: 
2023
Schriftenreihe/Nr.: 
Cardiff Economics Working Papers No. E2023/26
Verlag: 
Cardiff University, Cardiff Business School, Cardiff
Zusammenfassung: 
DSGE models based on New Keynesian principles, which have been extended to allow for banking, the zero lower bound on interest rates (ZLB), and varying price duration, can account well for recent macroeconomic behavior across a variety of economies. These models Önd that active Öscal policy can contribute to macroeconomic stability and welfare by reducing the frequency of hitting the ZLB. Fiscal policy can also share the stabilisation role with monetary policy, whose e§ectiveness under the ZLB is much reduced.
Schlagwörter: 
Moments
fiscal policy
zero bound
monetary policy
DSGE model
macro stability
indirect inference
JEL: 
E17
E31
E32
E42
E52
E62
Dokumentart: 
Working Paper

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