Debt Stabilisation Bias and the Taylor Principle: Optimal Policy in a New Keynesian Model with Government Debt and Inflation Persistence.

Debt Stabilisation Bias and the Taylor Principle: Optimal Policy in a New Keynesian Model with Government Debt and Inflation Persistence.

Pokaż inne wersje (1)

Leith and Wren-Lewis (2007) have shown that government debt is returned to its pre-shock level in a New Keynesian model under optimal discretionary policy. This has two important implications for monetary and fiscal policy. First, in a high-debt economy, it may be optimal for discretionary monetary...

Szczegółowa specyfikacja

Opis bibliograficzny
Główni autorzy:	Stehn, S, Vines, D
Format:	Working paper
Język:	English
Wydane:	CEPR 2008

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