Optimal fiscal and monetary policy with occasionally binding zero bound constraints

DOI10.1016/j.jedc.2016.09.011zbMath1401.91420OpenAlexW2096198430MaRDI QIDQ1656453

Taisuke Nakata

Publication date: 10 August 2018

Published in: Journal of Economic Dynamics \& Control (Search for Journal in Brave)

Full work available at URL: http://www.federalreserve.gov/pubs/feds/2013/201340/201340pap.pdf

zbMATH Keywords

time-inconsistencyfiscal policygovernment spendingoccasionally binding constraintszero lower boundMarkov-perfect policy

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64)

Related Items (4)

When is government debt accumulation optimal in a liquidity trap? ⋮ Monetary and fiscal policy in a liquidity trap with inflation persistence ⋮ Optimal discretionary monetary policy in a micro-founded model with a zero lower bound on nominal interest rate ⋮ Dynamic programming with state-dependent discounting

Cites Work

• Markov-perfect capital and labor taxes
• The inflation bias under Calvo and Rotemberg pricing
• Nonlinear adventures at the zero lower bound
• Dealing with a liquidity trap when government debt matters: optimal time-consistent monetary and fiscal policy
• Optimal discretionary monetary policy in a micro-founded model with a zero lower bound on nominal interest rate
• Equilibrium in a Production Economy with an Income Tax
• Optimal Monetary Policy
• Monetary Discretion, Pricing Complementarity, and Dynamic Multiple Equilibria
• Uncertainty Shocks in a Model of Effective Demand: Reply
• The Optimal Degree of Discretion in Monetary Policy

This page was built for publication: Optimal fiscal and monetary policy with occasionally binding zero bound constraints