Interactions between Monetary and Fiscal Policy Rules.
The Fiscal Stability Pact for EMU implies that constraints on fiscal policy facilitate inflation control. In this paper we identify two stable policy regimes. When monetary policy seeks to raise real interest rates in response to excess inflation, a self-stabilising fiscal policy is required to ensu...
| Main Authors: | , |
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| Format: | Journal article |
| Language: | English |
| Published: |
2000
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