Debt Stabilisation Bias and the Taylor Principle: Optimal Policy in a New Keynesian Model with Government Debt and Inflation Persistence.
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...
| 主要な著者: | , |
|---|---|
| フォーマット: | Working paper |
| 言語: | English |
| 出版事項: |
CEPR
2008
|
Search Result 1