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Marco Bassetto

Citations

Many of the citations below have been collected in an experimental project, CitEc, where a more detailed citation analysis can be found. These are citations from works listed in RePEc that could be analyzed mechanically. So far, only a minority of all works could be analyzed. See under "Corrections" how you can help improve the citation analysis.

Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. Marco Bassetto & Zhen Huo & José-Víctor Ríos-Rull, 2018. "Organizational Equilibrium with Capital," Working Paper Series WP-2018-20, Federal Reserve Bank of Chicago.

    Mentioned in:

    1. Organizational Equilibrium with Capital
      by Christian Zimmermann in NEP-DGE blog on 2018-12-24 16:52:26

RePEc Biblio mentions

As found on the RePEc Biblio, the curated bibliography of Economics:
  1. Marco Bassetto, 2019. "Forward Guidance: Communication, Commitment, or Both?," Working Paper Series WP-2019-5, Federal Reserve Bank of Chicago.

    Mentioned in:

    1. > Macroeconomics > Monetary Theory

Working papers

  1. Marco Bassetto & David S. Miller, 2022. "A Monetary-Fiscal Theory of Sudden Inflations," Staff Report 641, Federal Reserve Bank of Minneapolis.

    Cited by:

    1. Corsetti, Giancarlo & Maćkowiak, Bartosz, 2023. "Gambling to preserve price (and fiscal) stability," Working Paper Series 2844, European Central Bank.
    2. Nicolas Caramp & Dejanir Silva, 2023. "Fiscal Policy and the Monetary Transmission Mechanism," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 51, pages 716-746, December.

  2. Marco Bassetto & Leslie McGranahan, 2021. "Online Appendix to "Mobility, Population Growth, and Public Capital Spending in the United States"," Online Appendices 20-27, Review of Economic Dynamics.

    Cited by:

    1. Leonardo Melosi & Giorgio Primiceri & Andrea Tambalotti, 2021. "Introduction to the Special Issue in Memory of Alejandro Justiniano," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 41, pages 1-3, July.
    2. Tang, Kai & Li, Zhenshan & He, Chun, 2023. "Spatial distribution pattern and influencing factors of relative poverty in rural China," Innovation and Green Development, Elsevier, vol. 2(1).

  3. Marco Bassetto & Gherardo Gennaro Caracciolo, 2021. "Monetary/Fiscal Interactions with Forty Budget Constraints," Working Papers 788, Federal Reserve Bank of Minneapolis.

    Cited by:

    1. Maćkowiak, Bartosz & Schmidt, Sebastian, 2023. "Passive monetary policy and active fiscal policy in a monetary union," Working Paper Series 2781, European Central Bank.

  4. Marco Bassetto & Wei Cui, 2021. "A Ramsey Theory of Financial Distortions," Discussion Papers 2107, Centre for Macroeconomics (CFM).

    Cited by:

    1. Corina Boar & Matthew P. Knowles, 2022. "Optimal Taxation of Risky Entrepreneurial Capital," NBER Working Papers 29961, National Bureau of Economic Research, Inc.
    2. George-Marios Angeletos & Fabrice Collard & Harris Dellas, 2023. "Public Debt as Private Liquidity: Optimal Policy ," Working Papers hal-03917771, HAL.
    3. YiLi Chien & Yi Wen, 2019. "The Determination of Public Debt under both Aggregate and Idiosyncratic Uncertainty," Working Papers 2019-038, Federal Reserve Bank of St. Louis, revised 28 Apr 2022.
    4. Ricardo Reis, 2022. "Debt Revenue and the Sustainability of Public Debt," Discussion Papers 2214, Centre for Macroeconomics (CFM).
    5. YiLi Chien & Yi Wen, 2020. "Time-Inconsistent Optimal Quantity of Debt," Working Papers 2020-037, Federal Reserve Bank of St. Louis, revised 02 Sep 2021.

  5. Marco Bassetto & Thomas J. Sargent, 2020. "Shotgun Wedding: Fiscal and Monetary Policy," Staff Report 599, Federal Reserve Bank of Minneapolis.

    Cited by:

    1. Francesco Bianchi & Renato Faccini & Leonardo Melosi, 2020. "Monetary and Fiscal Policies in Times of Large Debt: Unity is Strength," NBER Working Papers 27112, National Bureau of Economic Research, Inc.
    2. John Cochrane, 2022. "The fiscal root of inflation," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 45, pages 22-40, July.
    3. Bańkowski, Krzysztof & Christoffel, Kai & Faria, Thomas, 2021. "Assessing the fiscal-monetary policy mix in the euro area," Working Paper Series 2623, European Central Bank.
    4. David Andolfatto, 2021. "Is It Time for Some Unpleasant Monetarist Arithmetic?," Review, Federal Reserve Bank of St. Louis, vol. 103(3), pages 315-332, July.
    5. Debrun, Xavier & Masuch, Klaus & Ferrero, Guiseppe & Vansteenkiste, Isabel & Ferdinandusse, Marien & von Thadden, Leopold & Hauptmeier, Sebastian & Alloza, Mario & Derouen, Chloé & Bańkowski, Krzyszto, 2021. "Monetary-fiscal policy interactions in the euro area," Occasional Paper Series 273, European Central Bank.
    6. George Economides & Dimitris Papageorgiou & Apostolis Philippopoulos, 2021. "Austerity, Assistance and Institutions: Lessons from the Greek Sovereign Debt Crisis," Open Economies Review, Springer, vol. 32(3), pages 435-478, July.
    7. Guillaume Plantin & Eric Mengus & Jean Barthelemy, 2022. "The Central Bank, the Treasury, or the Market: Which One Determines the Price Level?," SciencePo Working papers Main hal-03792094, HAL.
    8. Pierpaolo Benigno, 2022. "Monetary Policy in a World of Cryptocurrencies," Diskussionsschriften dp2211, Universitaet Bern, Departement Volkswirtschaft.
    9. Manuel Amador & Javier Bianchi, 2023. "Helicopter Drops and Liquidity Traps," Working Papers 797, Federal Reserve Bank of Minneapolis.
    10. Brumm, Johannes & Feng, Xiangyu & Kotlikoff, Laurence & Kubler, Felix, 2022. "Are deficits free?," Journal of Public Economics, Elsevier, vol. 208(C).
    11. Corbisiero, Giuseppe & Lawton, Neil, 2021. "The ECB’s Review of its Monetary Policy Strategy," Quarterly Bulletin Articles, Central Bank of Ireland, pages 70-103, October.
    12. Dhital, Saroj & Gomis-Porqueras, Pedro & Haslag, Joseph H., 2021. "Monetary and fiscal policy interactions in a frictional model of fiat money, nominal public debt and banking," European Economic Review, Elsevier, vol. 139(C).
    13. Francesco Bianchi & Leonardo Melosi, 2022. "Inflation as a Fiscal Limit," Working Paper Series WP 2022-37, Federal Reserve Bank of Chicago.
    14. Vasiliki Dimakopoulou & George Economides & Apostolis Philippopoulos & Vanghelis Vassilatos, 2023. "Can Central Banks Do the Unpleasant Job That Governments Should Do?," CESifo Working Paper Series 10603, CESifo.
    15. Ekaterina Pirozhkova & Jeffrey Rakgalakane & Luchelle Soobyah Rudi Steinbach, 2023. "EnhancingtheQuarterlyProjectionModel," Working Papers 11044, South African Reserve Bank.
    16. Vasiliki Dimakopoulou & George Economides & Apostolis Philippopoulos, 2021. "The ECB's Policy, the Recovery Fund and the Importance of Trust: The Case of Greece," CESifo Working Paper Series 9371, CESifo.
    17. Luchelle Soobyah & Nicola Viegi, 2022. "CanNationalTreasurydocontractionarymonetarypolicy," Working Papers 11031, South African Reserve Bank.
    18. Cyril Monnet & Hyun Song Shin & Jon Frost & Leonardo Gambacorta & Raphael Auer & Tara Rice, 2022. "Central Bank Digital Currencies: Motives, Economic Implications, and the Research Frontier," Annual Review of Economics, Annual Reviews, vol. 14(1), pages 697-721, August.
    19. Romeo Victor Ionescu & Costinela Fortea & Monica Laura Zlati & Valentin Marian Antohi, 2023. "Studying Differing Impacts of Various Monetary Aggregates on the Real Economy," IJFS, MDPI, vol. 11(4), pages 1-22, December.
    20. Ekaterina Pirozhkova & Jeffrey Rakgalakane & Luchelle Soobyah & Rudi Steinbach, 2023. "Enhancing the Quarterly Projection Model," Working Papers 11048, South African Reserve Bank.
    21. Gaetano Bloise & Pietro Reichlin, 2023. "Low safe interest rates: A case for dynamic inefficiency?," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 51, pages 633-656, December.

  6. Marco Bassetto, 2019. "Forward Guidance: Communication, Commitment, or Both?," Working Paper Series WP-2019-5, Federal Reserve Bank of Chicago.

    Cited by:

    1. George-Marios Angeletos & Chen Lian, 2018. "Forward Guidance without Common Knowledge," American Economic Review, American Economic Association, vol. 108(9), pages 2477-2512, September.
    2. Paul Hubert & Fabien Labondance, 2018. "The Effect of ECB Forward Guidance on the Term Structure of Interest Rates," International Journal of Central Banking, International Journal of Central Banking, vol. 14(5), pages 193-222, December.
    3. Philippe Andrade & Gaetano Gaballo & Eric Mengus & Benoît Mojon, 2019. "Forward Guidance and Heterogeneous Beliefs," American Economic Journal: Macroeconomics, American Economic Association, vol. 11(3), pages 1-29, July.
    4. Sui-Jade Ho & Özer Karagedikli, 2021. "Effects of Monetary Policy Communication in Emerging Market Economies: Evidence from Malaysia," Working Papers wp44, South East Asian Central Banks (SEACEN) Research and Training Centre.
    5. Chengcheng Jia, 2019. "Forward Guidance under Imperfect Information: Instrument Based or State Contingent?," Working Papers 19-22, Federal Reserve Bank of Cleveland.
    6. Paul Hubert & Fabien Labondance, 2016. "The effect of ECB forward guidance on policy expectations," Working Papers hal-03459188, HAL.
    7. Ippei Fujiwara & Yuichiro Waki, 2021. "Online Appendix to "The Delphic forward guidance puzzle in New Keynesian models"," Online Appendices 19-50, Review of Economic Dynamics.
    8. Jean Barthélemy & Eric Mengus, 2016. "The Signaling Effect of Raising Inflation," Sciences Po publications 2016-06, Sciences Po.
    9. Duarte, Fernando, 2019. "Comment on “Forward guidance: Communication, commitment, or both?” by Marco Bassetto," Journal of Monetary Economics, Elsevier, vol. 108(C), pages 87-92.
    10. Christopher S. Sutherland, 2020. "Forward Guidance and Expectation Formation: A Narrative Approach," Staff Working Papers 20-40, Bank of Canada.
    11. Florin O. Bilbiie, 2019. "Optimal Forward Guidance," American Economic Journal: Macroeconomics, American Economic Association, vol. 11(4), pages 310-345, October.
    12. van Holle, Frederiek, 2017. "Essays in empirical finance and monetary policy," Other publications TiSEM 30d11a4b-7bc9-4c81-ad24-5, Tilburg University, School of Economics and Management.
    13. Carlos Carvalho & Eric Hsu & Fernanda Nechio, 2016. "Measuring the effect of the zero lower bound on monetary policy," Working Paper Series 2016-6, Federal Reserve Bank of San Francisco.
    14. Julián Caballero & Blaise Gadanecz, 2023. "Did interest rate guidance in emerging markets work?," BIS Working Papers 1080, Bank for International Settlements.
    15. Fujiwara, Ippei & Waki, Yuichiro, 2021. "The Delphic forward guidance puzzle in New Keynesian models," CEPR Discussion Papers 16020, C.E.P.R. Discussion Papers.
    16. Francesco Salsano, 2022. "Monetary policy when the objectives of central bankers are imperfectly observable," Scottish Journal of Political Economy, Scottish Economic Society, vol. 69(4), pages 396-415, September.
    17. Fujiwara, Ippei & Waki, Yuichiro, 2020. "Fiscal forward guidance: A case for selective transparency," Journal of Monetary Economics, Elsevier, vol. 116(C), pages 236-248.
    18. Mridula Duggal & Luis Rojas, 2023. "Optimal Disinflation with Delegation and Limited Credibility," Working Papers 1401, Barcelona School of Economics.
    19. Ricardo J. Caballero & Alp Simsek, 2020. "Monetary Policy with Opinionated Markets," NBER Working Papers 27313, National Bureau of Economic Research, Inc.
    20. Christopher S Sutherland, 2022. "Forward guidance and expectation formation: A narrative approach," BIS Working Papers 1024, Bank for International Settlements.
    21. Christopher S. Sutherland, 2023. "Forward guidance and expectation formation: A narrative approach," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 38(2), pages 222-241, March.

  7. Marco Bassetto & Wei Cui, 2018. "The Fiscal Theory of the Price Level in an Environment of Low Interest Rates," 2018 Meeting Papers 574, Society for Economic Dynamics.

    Cited by:

    1. Saroj Dhital & Pedro Gomis-Porqueras & Joseph H. Haslag, 2020. "Monetary and Fiscal Policy Interactions in a Frictional Model of Money, Nominal Public Debt and Banking," Working Papers 2002, Department of Economics, University of Missouri.
    2. Mark Aguiar & Manuel Amador & Cristina Arellano, 2021. "Micro Risks and Pareto Improving Policies with Low Interest Rates," Staff Report 625, Federal Reserve Bank of Minneapolis.
    3. Begona Dominguez & Pedro Gomis-Porqueras, 2019. "The effects of secondary markets for government bonds on inflation dynamics," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 32, pages 249-273, April.
    4. Guillaume Plantin & Eric Mengus & Jean Barthelemy, 2022. "The Central Bank, the Treasury, or the Market: Which One Determines the Price Level?," SciencePo Working papers Main hal-03792094, HAL.
    5. Rym Aloui & Michel Guillard, 2020. "The Fiscal Theory of the Price Level in a Non-Ricardian Economy," Post-Print halshs-03052061, HAL.
    6. Jean Barthélemy & Eric Mengus & Guillaume Plantin, 2020. "Public Liquidity Demand and Central Bank Independence," Working papers 747, Banque de France.
    7. Pedro Gomis‐Porqueras, 2020. "Fiscal Requirements for Dynamic and Real Determinacies in Economies with Private Provision of Liquidity: A Monetarist Assessment," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 52(1), pages 229-267, February.
    8. Obstfeld, Maurice & Rogoff, Kenneth, 2017. "Revisiting Speculative Hyperinflations in Monetary Models," CEPR Discussion Papers 12051, C.E.P.R. Discussion Papers.
    9. Gaetano Bloise & Pietro Reichlin, 2023. "Low safe interest rates: A case for dynamic inefficiency?," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 51, pages 633-656, December.

  8. Marco Bassetto & Wei Cui, 2017. "The Fiscal Theory of the Price Level in a World of Low Interest Rates," Discussion Papers 1731, Centre for Macroeconomics (CFM).

    Cited by:

    1. Andolfatto, David & Martin, Fernando M., 2018. "Monetary policy and liquid government debt," Journal of Economic Dynamics and Control, Elsevier, vol. 89(C), pages 183-199.
    2. Saroj Dhital & Pedro Gomis-Porqueras & Joseph H. Haslag, 2020. "Monetary and Fiscal Policy Interactions in a Frictional Model of Money, Nominal Public Debt and Banking," Working Papers 2002, Department of Economics, University of Missouri.
    3. Lamia Bazzaoui & Jun Nagayasu, 2021. "Is Inflation Fiscally Determined?," Sustainability, MDPI, vol. 13(20), pages 1-26, October.
    4. Mark Aguiar & Manuel Amador & Cristina Arellano, 2021. "Micro Risks and Pareto Improving Policies with Low Interest Rates," Staff Report 625, Federal Reserve Bank of Minneapolis.
    5. Markus K. Brunnermeier & Sebastian Merkel & Yuliy Sannikov, 2020. "The Fiscal Theory of the Price Level with a Bubble," CESifo Working Paper Series 8278, CESifo.
    6. Begona Dominguez & Pedro Gomis-Porqueras, 2019. "The effects of secondary markets for government bonds on inflation dynamics," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 32, pages 249-273, April.
    7. Marco Bassetto & Thomas J. Sargent, 2020. "Shotgun Wedding: Fiscal and Monetary Policy," NBER Working Papers 27004, National Bureau of Economic Research, Inc.
    8. Marco Bassetto & Wei Cui, 2021. "A Ramsey Theory of Financial Distortions," Discussion Papers 2107, Centre for Macroeconomics (CFM).
    9. Markus K. Brunnermeier & Sebastian Merkel & Yuliy Sannikov, 2021. "Debt as Safe Asset," Working Papers 2021-30, Princeton University. Economics Department..
    10. Williamson, Stephen D., 2018. "Can the fiscal authority constrain the central bank?," Journal of Economic Dynamics and Control, Elsevier, vol. 89(C), pages 154-172.
    11. David Andolfatto, 2021. "Is It Time for Some Unpleasant Monetarist Arithmetic?," Review, Federal Reserve Bank of St. Louis, vol. 103(3), pages 315-332, July.
    12. Jean-Baptiste Michau, 2022. "The Trilemma for Low Interest Rate Macroeconomics," Working Papers 2022-19, Center for Research in Economics and Statistics.
    13. Mr. Roger Farmer & Pawel Zabczyk, 2019. "A Requiem for the Fiscal Theory of the Price Level," IMF Working Papers 2019/219, International Monetary Fund.
    14. Christian Bayer & Benjamin Born & Ralph Luetticke, 2021. "The Liquidity Channel of Fiscal Policy," ifo Working Paper Series 351, ifo Institute - Leibniz Institute for Economic Research at the University of Munich.
    15. Roudari, Soheil & Salmani, Yunes, 2020. "Macroeconomic Effects of Government Debt to Banks in Iran," Journal of Money and Economy, Monetary and Banking Research Institute, Central Bank of the Islamic Republic of Iran, vol. 15(4), pages 403-422, October.
    16. Guillaume Plantin & Eric Mengus & Jean Barthelemy, 2022. "The Central Bank, the Treasury, or the Market: Which One Determines the Price Level?," SciencePo Working papers Main hal-03792094, HAL.
    17. Jaka Sriyana & Jiyao Joanna Ge, 2019. "Asymmetric responses of fiscal policy to the inflation rate in Indonesia," Economics Bulletin, AccessEcon, vol. 39(3), pages 1701-1713.
    18. Ranjan Kumar Mohanty & N. R. Bhanumurthy, 2021. "Revisiting the role of fiscal policy in determining interest rate in India," Journal of the Asia Pacific Economy, Taylor & Francis Journals, vol. 26(2), pages 293-318, April.
    19. Saito, Makoto & 齊藤, 誠, 2020. "Long-run mild deflation under fiscal unsustainability in Japan," Discussion Paper Series 703, Institute of Economic Research, Hitotsubashi University.
    20. Rym Aloui & Michel Guillard, 2020. "The Fiscal Theory of the Price Level in a Non-Ricardian Economy," Post-Print halshs-03052061, HAL.
    21. Hideki Konishi & Kozo Ueda, 2013. "Aging and Deflation from a Fiscal Perspective," IMES Discussion Paper Series 13-E-13, Institute for Monetary and Economic Studies, Bank of Japan.
    22. Ricardo Reis, 2022. "Debt Revenue and the Sustainability of Public Debt," Discussion Papers 2214, Centre for Macroeconomics (CFM).
    23. Berentsen, Aleksander & Waller, Christopher, 2018. "Liquidity premiums on government debt and the fiscal theory of the price level," Journal of Economic Dynamics and Control, Elsevier, vol. 89(C), pages 173-182.
    24. Dhital, Saroj & Gomis-Porqueras, Pedro & Haslag, Joseph H., 2021. "Monetary and fiscal policy interactions in a frictional model of fiat money, nominal public debt and banking," European Economic Review, Elsevier, vol. 139(C).
    25. Francesco Bianchi & Leonardo Melosi, 2022. "Inflation as a Fiscal Limit," Working Paper Series WP 2022-37, Federal Reserve Bank of Chicago.
    26. Ricardo Reis, 2021. "The constraint on public dept when r," BIS Working Papers 939, Bank for International Settlements.
    27. Gilles Dufrénot & Carolina Ulloa Suarez, 2019. "Public finance sustainability in Europe: a behavioral model," AMSE Working Papers 1929, Aix-Marseille School of Economics, France.
    28. Hannes Malmberg & Erik Öberg, 2021. "Price‐Level Determination When Tax Payments Are Required in Money," Scandinavian Journal of Economics, Wiley Blackwell, vol. 123(2), pages 621-644, April.
    29. Farmer, Roger & Zabczyk, Pawel, 2022. "Monetary and Fiscal Policy when People have Finite Lives," CEPR Discussion Papers 13432, C.E.P.R. Discussion Papers.
    30. Jean Barthélemy & Eric Mengus & Guillaume Plantin, 2020. "Public Liquidity Demand and Central Bank Independence," Working papers 747, Banque de France.
    31. Pedro Gomis‐Porqueras, 2020. "Fiscal Requirements for Dynamic and Real Determinacies in Economies with Private Provision of Liquidity: A Monetarist Assessment," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 52(1), pages 229-267, February.
    32. Ismail O. Fasanya & Ayinke Fajobi & Abiodun Adetokunbo, 2021. "Are Fiscal Deficits Inflationary In Nigeria? New Evidence From Bounds Testing To Cointegration With Structural Breaks," Economic Annals, Faculty of Economics and Business, University of Belgrade, vol. 66(228), pages 123-148, January –.
    33. Obstfeld, Maurice & Rogoff, Kenneth, 2017. "Revisiting Speculative Hyperinflations in Monetary Models," CEPR Discussion Papers 12051, C.E.P.R. Discussion Papers.
    34. Atif Mian & Ludwig Straub & Amir Sufi, 2021. "A Goldilocks Theory of Fiscal Policy," Working Papers 2021-37, Princeton University. Economics Department..
    35. Gaetano Bloise & Pietro Reichlin, 2023. "Low safe interest rates: A case for dynamic inefficiency?," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 51, pages 633-656, December.
    36. Francesco Bianchi & Ethan Ilzetzki, 2022. "Jackson Hole 2022 - Reassessing Constraints on Policy: Fiscal Constraints," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, August.

  9. Marco Bassetto & Carlo Galli, 2017. "Is Inflation Default? The Role of Information in Debt Crises," Discussion Papers 1715, Centre for Macroeconomics (CFM).

    Cited by:

    1. R. Anton Braun & Tomoyuki Nakajima, 2018. "Why Prices Don't Respond Sooner to a Prospective Sovereign Debt Crisis," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 29, pages 235-255, July.
    2. Grace Weishi Gu & Zachary R. Stangebye, 2023. "Costly Information And Sovereign Risk," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 64(4), pages 1397-1429, November.
    3. Veldkamp, Laura & Farboodi, Maryam, 2018. "Long Run Growth of Financial Data Technology," CEPR Discussion Papers 13278, C.E.P.R. Discussion Papers.
    4. Guillaume Plantin & Eric Mengus & Jean Barthelemy, 2022. "The Central Bank, the Treasury, or the Market: Which One Determines the Price Level?," SciencePo Working papers Main hal-03792094, HAL.
    5. Maryam Farboodi & Laura Veldkamp, 2018. "Long Run Growth of Financial Data Technology," Working Papers 18-09, New York University, Leonard N. Stern School of Business, Department of Economics.
    6. Elias Albagli & Christian Hellwig & Aleh Tsyvinski, 2021. "Dispersed Information and Asset Prices," Working Papers hal-03118639, HAL.
    7. Javier Bianchi & Jorge Mondragon, 2022. "Monetary Independence and Rollover Crises," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 137(1), pages 435-491.
    8. Barry Eichengreen & Ricardo Hausmann & Ugo Panizza, 2022. "Yet it Endures: The Persistence of Original Sin," CID Working Papers 420, Center for International Development at Harvard University.
    9. Albagli, Elias & Hellwig, Christian & Tsyvinski, Aleh, 2021. "Information Aggregation with Asymmetric Asset Payoffs," TSE Working Papers 21-1172, Toulouse School of Economics (TSE), revised Apr 2023.
    10. Galli, Carlo, 2019. "Self-fulfilling debt crises, fiscal policy and investment," LSE Research Online Documents on Economics 100942, London School of Economics and Political Science, LSE Library.
    11. Ricardo Reis, 2020. "The People versus the Markets: A Parsimonious Model of Inflation Expectations," Discussion Papers 2033, Centre for Macroeconomics (CFM).
    12. Hellwig, Christian & Albagli, Elias & Tsyvinski, Aleh, 2022. "Information Aggregation and Asymmetric Returns," CEPR Discussion Papers 15644, C.E.P.R. Discussion Papers.
    13. Teupe, Sebastian, 2020. "Keynes, Inflation, and the Public Debt: "How to Pay for the War" as a Policy Prescription for Financial Repression?," Working Papers 16, German Research Foundation's Priority Programme 1859 "Experience and Expectation. Historical Foundations of Economic Behaviour", Humboldt University Berlin.

  10. Marco Bassetto & Luca Benzoni & Trevor Serrao, 2016. "The Interplay Between Financial Conditions and Monetary Policy Shocks," Working Paper Series WP-2016-11, Federal Reserve Bank of Chicago.

    Cited by:

    1. Filardo, Andrew & Hubert, Paul & Rungcharoenkitkul, Phurichai, 2022. "Monetary policy reaction function and the financial cycle," Journal of Banking & Finance, Elsevier, vol. 142(C).
    2. Rüdiger Bachmann & Sebastian Rüth, 2017. "Systematic Monetary Policy And The Macroeconomic Effects Of Shifts In Loan-To-Value Ratios," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 17/934, Ghent University, Faculty of Economics and Business Administration.
    3. Rüdiger Bachmann & Sebastian K. Rüth, 2020. "Systematic Monetary Policy And The Macroeconomic Effects Of Shifts In Residential Loan‐To‐Value Ratios," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 61(2), pages 503-530, May.

  11. Marco Bassetto & Marco Cagetti & Mariacristina De Nardi, 2013. "Credit crunches and credit allocation in a model of entrepreneurship," Working Paper Series WP-2013-06, Federal Reserve Bank of Chicago.

    Cited by:

    1. Emin M. Dinlersoz & Henry R. Hyatt & Hubert P. Janicki, 2015. "Who Works for Whom? Worker Sorting in a Model of Entrepreneurship with Heterogeneous Labor Markets," Working Papers 15-08, Center for Economic Studies, U.S. Census Bureau.
    2. Veronica Guerrieri & Guido Lorenzoni, 2011. "Credit Crises, Precautionary Savings, and the Liquidity Trap," NBER Working Papers 17583, National Bureau of Economic Research, Inc.
    3. Francisco J. Buera & Joseph P. Kaboski & Yongseok Shin, 2015. "Entrepreneurship and Financial Frictions: A Macro-Development Perspective," NBER Working Papers 21107, National Bureau of Economic Research, Inc.
    4. Oliver Levine & Missaka Warusawitharana, 2014. "Finance and Productivity Growth: Firm-level Evidence," Finance and Economics Discussion Series 2014-17, Board of Governors of the Federal Reserve System (U.S.).
    5. Marco Desogus & Beatrice Venturi, 2023. "Stability and Bifurcations in Banks and Small Enterprises—A Three-Dimensional Continuous-Time Dynamical System," JRFM, MDPI, vol. 16(3), pages 1-20, March.
    6. Giacomo Candian & Mikhail Dmitriev, 2020. "Online Appendix to "Risk Aversion, Uninsurable Idiosyncratic Risk, and the Financial Accelerator"," Online Appendices 18-70, Review of Economic Dynamics.
    7. Naijia Guo & Charles Ka Yui Leung, 2021. "Do Elite Colleges Matter? The Impact on Entrepreneurship Decisions and Career Dynamics," ISER Discussion Paper 1126, Institute of Social and Economic Research, Osaka University.
    8. Josef Schroth, 2021. "On the Distributional Effects of Bank Bailouts," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 40, pages 252-277, April.
    9. Emin M. Dinlersoz & Henry Hyatt & Ṣebnem Kalemli-Özcan & Veronika Penciakova, 2019. "Leverage over the Firm Life Cycle, Firm Growth, and Aggregate Fluctuations," FRB Atlanta Working Paper 2019-18, Federal Reserve Bank of Atlanta.
    10. Oleg Itskhoki & Benjamin Moll, 2019. "Optimal Development Policies With Financial Frictions," Econometrica, Econometric Society, vol. 87(1), pages 139-173, January.
    11. Katya Kartashova, 2011. "The Private Equity Premium Puzzle Revisited," Staff Working Papers 11-6, Bank of Canada.
    12. Trevor Serrao & Luca Benzoni & Marco Bassetto, 2017. "The Interplay Between Financial Conditions and Monetary Policy Shocks," 2017 Meeting Papers 1124, Society for Economic Dynamics.
    13. Ayse Imrohoroglu & Cagri S. Kumru & Arm Nakornthab, 2018. "Revisiting Tax on Top Income," ANU Working Papers in Economics and Econometrics 2018-660, Australian National University, College of Business and Economics, School of Economics.
    14. Emin Dinlersoz & Henry Hyatt & Hubert Janicki, 2019. "Online Appendix to "Who Works for Whom? Worker Sorting in a Model of Entrepreneurship with Heterogeneous Labor Markets"," Online Appendices 18-290, Review of Economic Dynamics.
    15. Yuko Imura & Julia Thomas, 2015. "Productive Misallocation and International Transmission of Credit Shocks," Staff Working Papers 15-19, Bank of Canada.
    16. Cui, Wei, 2016. "Monetary–fiscal interactions with endogenous liquidity frictions," European Economic Review, Elsevier, vol. 87(C), pages 1-25.
    17. Koffi Elitcha & Raquel Fonseca, 2016. "Self-Employment, Wealth and Start-up Costs: Evidence from a Financial Crisis," CIRANO Working Papers 2016s-51, CIRANO.
    18. Luisa Fuster, 2022. "Macroeconomic and distributive effects of increasing taxes in Spain," SERIEs: Journal of the Spanish Economic Association, Springer;Spanish Economic Association, vol. 13(4), pages 613-648, December.
    19. Goel, Manisha & Zemel, Michelle, 2018. "Switching to bonds when loans are scarce: Evidence from four U.S. crises," Journal of Corporate Finance, Elsevier, vol. 52(C), pages 1-27.
    20. Francesco Manaresi & Filippo Scoccianti, 2017. "Battle scars. New firms� capital, labor, and revenue growth during the double-dip recession," Questioni di Economia e Finanza (Occasional Papers) 390, Bank of Italy, Economic Research and International Relations Area.
    21. Grilli, Ruggero & Tedeschi, Gabriele & Gallegati, Mauro, 2020. "Business fluctuations in a behavioral switching model: Gridlock effects and credit crunch phenomena in financial networks," Journal of Economic Dynamics and Control, Elsevier, vol. 114(C).
    22. Polbin, Andrey & Shumilov, Andrei, 2020. "Предпринимательство, Накопление Богатства И Ограничения Заимствования: Обзор Зарубежных Исследований [Entrepreneurship, wealth accumulation and borrowing constraints: Foreign research experience]," MPRA Paper 103675, University Library of Munich, Germany.
    23. Davide Melcangi, 2018. "The marginal propensity to hire," Staff Reports 875, Federal Reserve Bank of New York.
    24. Zhang, Lini, 2018. "Credit crunches, individual heterogeneity and the labor wedge," Journal of Macroeconomics, Elsevier, vol. 56(C), pages 65-88.
    25. van den Bijgaart, Inge, 2016. "Essays in environmental economics and policy," Other publications TiSEM 298bee2a-cb08-4173-9fe1-8, Tilburg University, School of Economics and Management.
    26. Davide Melcangi, 2024. "Firms' Precautionary Savings and Employment during a Credit Crisis," American Economic Journal: Macroeconomics, American Economic Association, vol. 16(1), pages 356-386, January.
    27. Elizaveta V. Martyanova & Andrey V. Polbin, 2023. "General equilibrium model with the entrepreneurial sector for the Russian economy," Russian Journal of Economics, ARPHA Platform, vol. 9(2), pages 109-133, July.
    28. Dabla-Norris, Era & Ji, Yan & Townsend, Robert M. & Filiz Unsal, D., 2021. "Distinguishing constraints on financial inclusion and their impact on GDP, TFP, and the distribution of income," Journal of Monetary Economics, Elsevier, vol. 117(C), pages 1-18.
    29. Jonathan Goldberg, 2013. "Credit-crunch dynamics with uninsured investment risk," Finance and Economics Discussion Series 2013-47, Board of Governors of the Federal Reserve System (U.S.).
    30. Ayse Imrohoroglu & Cagri Kumru & Jiu Lian & Arm Nakornthab, 2023. "Revisiting Taxes on High Incomes," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 51, pages 1159-1184, December.
    31. Daniel Aaronson & Daniel Hartley & Bhashkar Mazumder, 2021. "The Effects of the 1930s HOLC "Redlining" Maps," American Economic Journal: Economic Policy, American Economic Association, vol. 13(4), pages 355-392, November.
    32. Francesco Menoncin & Andrea Modena & Luca Regis, 2023. "Dynamic Tax Evasion and Capital Misallocation in General Equilibrium," CRC TR 224 Discussion Paper Series crctr224_2023_453, University of Bonn and University of Mannheim, Germany.
    33. Kame Babilla, Thierry U., 2023. "Digital innovation and financial access for small and medium-sized enterprises in a currency union," Economic Modelling, Elsevier, vol. 120(C).
    34. Kalemli-Özcan, Sebnem, 2018. "Leverage over the Life Cycle and Implications for Firm Growth and Shock Responsiveness," CEPR Discussion Papers 13337, C.E.P.R. Discussion Papers.
    35. Petr Sedláček & Vincent Sterk, 2017. "The Growth Potential of Startups over the Business Cycle," American Economic Review, American Economic Association, vol. 107(10), pages 3182-3210, October.
    36. Josef Schroth, 2016. "Financial Crisis Interventions," Staff Working Papers 16-29, Bank of Canada.
    37. Sebastian Dyrda & Benjamin Pugsley, 2018. "Taxes, Regulations of Businesses and Evolution of Income Inequality in the US," 2018 Meeting Papers 318, Society for Economic Dynamics.
    38. Gabriele Tedeschi & Fabio Caccioli & Maria Cristina Recchioni, 2020. "Taming financial systemic risk: models, instruments and early warning indicators," Journal of Economic Interaction and Coordination, Springer;Society for Economic Science with Heterogeneous Interacting Agents, vol. 15(1), pages 1-7, January.
    39. Merlin, Giovanni Tondin, 2018. "Entrepreneurship, financial frictions and the welfare gains of business cycles," Textos para discussão 484, FGV EESP - Escola de Economia de São Paulo, Fundação Getulio Vargas (Brazil).
    40. Gaillard, Alexandre & Kankanamge, Sumudu, 2018. "Entrepreneurship, Labor Market Mobility and the Role of Entrepreneurial Insurance," TSE Working Papers 18-929, Toulouse School of Economics (TSE), revised Jan 2019.
    41. Andrew E. Hansen-Addy & Davide M. Parrilli & Ishmael Tingbani, 2024. "The impact of trade facilitation on African SMEs’ performance," Small Business Economics, Springer, vol. 62(1), pages 105-131, January.
    42. Inge M. Bijgaart & Sjak Smulders, 2018. "Does a Recession Call for Less Stringent Environmental Policy? A Partial-Equilibrium Second-Best Analysis," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 70(4), pages 807-834, August.
    43. Hofbauer, Florian & Fehr, Hans, 2016. "Pension reform with entrepreneurial choice," VfS Annual Conference 2016 (Augsburg): Demographic Change 145714, Verein für Socialpolitik / German Economic Association.
    44. Bermejo, Vicente J. & Campos, Rodolfo G. & Abad, José M., 2015. "How does easing liquidity constraints affect aggregate employment?," DEE - Working Papers. Business Economics. WB wb1504, Universidad Carlos III de Madrid. Departamento de Economía de la Empresa.
    45. Silva, Mario Rafael, 2019. "Corporate finance, monetary policy, and aggregate demand," Journal of Economic Dynamics and Control, Elsevier, vol. 102(C), pages 1-28.
    46. Dr. Md. Anowar Hossain & Brazendra Nath Roy & Md. Ali Hasan & Md. Shahadat Hossain, 2024. "Fostering Entrepreneurial Growth: The Impact of Institutional Credits," International Journal of Science and Business, IJSAB International, vol. 32(1), pages 65-73.
    47. Federico Vegetti & Dragoş Adăscăliţei, 2017. "The impact of the economic crisis on latent and early entrepreneurship in Europe," International Entrepreneurship and Management Journal, Springer, vol. 13(4), pages 1289-1314, December.
    48. Emin Dinlersoz & Sebnem Kalemli-Ozcan & Henry Hyatt & Veronika Penciakova, 2018. "Leverage over the Life Cycle and Implications for Firm Growth and Shock Responsiveness," NBER Working Papers 25226, National Bureau of Economic Research, Inc.
    49. Francisco J. Buera & Juan Pablo Nicolini, 2017. "Liquidity Traps and Monetary Policy: Managing a Credit Crunch: Online Appendix," Staff Report 541, Federal Reserve Bank of Minneapolis.

  12. Marco Bassetto & Christopher Phelan, 2013. "Speculative Runs on Interest Rate Pegs," NBER Working Papers 18864, National Bureau of Economic Research, Inc.

    Cited by:

    1. Marco Bassetto & Wei Cui, 2018. "The Fiscal Theory of the Price Level in an Environment of Low Interest Rates," 2018 Meeting Papers 574, Society for Economic Dynamics.
    2. Stephen F. Quinn & William Roberds, 2017. "An Early Experiment with \"Permazero\"," FRB Atlanta Working Paper 2017-5, Federal Reserve Bank of Atlanta.
    3. Fegatelli, Paolo, 2022. "A central bank digital currency in a heterogeneous monetary union: Managing the effects on the bank lending channel," Journal of Macroeconomics, Elsevier, vol. 71(C).
    4. Bassetto, Marco & Cui, Wei, 2018. "The fiscal theory of the price level in a world of low interest rates," Journal of Economic Dynamics and Control, Elsevier, vol. 89(C), pages 5-22.
    5. Manuel Amador & Javier Bianchi & Luigi Bocola & Fabrizio Perri, 2017. "Exchange Rate Policies at the Zero Lower Bound," Working Papers 740, Federal Reserve Bank of Minneapolis.
    6. Huberto Ennis, 2014. "A simple general equilibrium model of large excess reserves," 2014 Meeting Papers 1357, Society for Economic Dynamics.
    7. Paolo Fegatelli, 2021. "The one trillion euro digital currency: How to issue a digital euro without threatening monetary policy transmission and financial stability?," BCL working papers 155, Central Bank of Luxembourg.
    8. Christopher Phelan, 2015. "Should We Worry About Excess Reserves?," Economic Policy Paper 15-8, Federal Reserve Bank of Minneapolis.
    9. Federico Sturzenegger, 2019. "Macri´s Macro: The meandering road to stability and growth," Working Papers 135, Universidad de San Andres, Departamento de Economia, revised Oct 2019.

  13. Marco Bassetto & Todd Messer, 2013. "Fiscal consequences of paying interest on reserves," Working Paper Series WP-2013-04, Federal Reserve Bank of Chicago.

    Cited by:

    1. Reis, Ricardo, 2016. "Funding quantitative easing to target inflation," LSE Research Online Documents on Economics 67883, London School of Economics and Political Science, LSE Library.
    2. Michele Cavallo & Marco Del Negro & W. Scott Frame & Jamie Grasing & Benjamin A. Malin & Carlo Rosa, 2018. "Fiscal Implications of the Federal Reserve’s Balance Sheet Normalization," FEDS Notes 2017-01-09, Board of Governors of the Federal Reserve System (U.S.).
    3. Ricardo Reis, 2016. "Can the Central Bank Alleviate Fiscal Burdens?," NBER Working Papers 23014, National Bureau of Economic Research, Inc.
    4. Margarita Irizepova, 2015. "Methods of State’s Reaction to Risks of State Finances Management," European Research Studies Journal, European Research Studies Journal, vol. 0(3), pages 129-136.
    5. Hall, Robert, 2015. "Maintaining Central-Bank Financial Stability under New-Style Central Banking," CEPR Discussion Papers 10741, C.E.P.R. Discussion Papers.
    6. George Economides & Dimitris Papageorgiou & Apostolis Philippopoulos, 2020. "Macroeconomic policy lessons for Greece," GreeSE – Hellenic Observatory Papers on Greece and Southeast Europe 152, Hellenic Observatory, LSE.
    7. Giancarlo Corsetti & Luca Dedola, 2012. "The "Mystery of the Printing Press" Monetary Policy and Self-fulfilling Debt Crises," Discussion Papers 1424, Centre for Macroeconomics (CFM), revised Aug 2014.
    8. Debrun, Xavier & Masuch, Klaus & Ferrero, Guiseppe & Vansteenkiste, Isabel & Ferdinandusse, Marien & von Thadden, Leopold & Hauptmeier, Sebastian & Alloza, Mario & Derouen, Chloé & Bańkowski, Krzyszto, 2021. "Monetary-fiscal policy interactions in the euro area," Occasional Paper Series 273, European Central Bank.
    9. Salvatore Nistico & Pierpaolo Benigno, 2017. "Non-Neutrality of Open Market Operations," 2017 Meeting Papers 574, Society for Economic Dynamics.
    10. Guillaume Plantin & Eric Mengus & Jean Barthelemy, 2022. "The Central Bank, the Treasury, or the Market: Which One Determines the Price Level?," SciencePo Working papers Main hal-03792094, HAL.
    11. Constantin ANGHELACHE & Mihai Paunica & Gyorgy BODO & Maria MIREA, 2017. "Aspects Of Optimal Monetary And Fiscal Policies," Romanian Statistical Review Supplement, Romanian Statistical Review, vol. 65(5), pages 122-138, May.
    12. Masciandaro, Donato, 2022. "Independence, conservatism, and beyond: Monetary policy, central bank governance and central banker preferences (1981–2021)," Journal of International Money and Finance, Elsevier, vol. 122(C).
    13. Marco Del Negro & Christopher A. Sims, 2014. "When does a central bank’s balance sheet require fiscal support?," Staff Reports 701, Federal Reserve Bank of New York.
    14. Marco Bassetto & Gherardo Gennaro Caracciolo, 2021. "Monetary/Fiscal Interactions with Forty Budget Constraints," Working Papers 788, Federal Reserve Bank of Minneapolis.
    15. Donato Masciandaro, 2021. "Central Bank Governance in Monetary Policy Economics (1981-2020)," BAFFI CAREFIN Working Papers 21153, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
    16. Eric Tymoigne & L. Randall Wray, 2013. "Modern Money Theory 101: A Reply to Critics," Economics Working Paper Archive wp_778, Levy Economics Institute.
    17. Bonam, Dennis & Ciccarelli, Matteo & Gomes, Sandra & Aldama, Pierre & Bańkowski, Krzysztof & Buss, Ginters & da Costa, José Cardoso & Christoffel, Kai & Elfsbacka Schmöller, Michaela & Jacquinot, Pasc, 2024. "Challenges for monetary and fiscal policy interactions in the post-pandemic era," Occasional Paper Series 337, European Central Bank.
    18. Eric Tymoigne & L. Randall Wray, 2015. "Modern Money Theory: A Reply to Palley," Review of Political Economy, Taylor & Francis Journals, vol. 27(1), pages 24-44, January.
    19. Harrison, Richard, 2017. "Optimal quantitative easing," Bank of England working papers 678, Bank of England.
    20. Manuel Amador & Javier Bianchi, 2023. "Helicopter Drops and Liquidity Traps," Working Papers 797, Federal Reserve Bank of Minneapolis.
    21. Dutkowsky, Donald H. & VanHoose, David D., 2017. "Interest on reserves, regime shifts, and bank behavior," Journal of Economics and Business, Elsevier, vol. 91(C), pages 1-15.
    22. Atsushi Tanaka, 2020. "Central Bank Capital and Credibility: A Literature Survey," Discussion Paper Series 208, School of Economics, Kwansei Gakuin University, revised May 2020.
    23. Roberto Robatto & Pierpaolo Benigno, 2016. "Private Money and Equilibrium Liquidity," 2016 Meeting Papers 690, Society for Economic Dynamics.
    24. Vasiliki Dimakopoulou & George Economides & Apostolis Philippopoulos & Vanghelis Vassilatos, 2023. "Can Central Banks Do the Unpleasant Job That Governments Should Do?," CESifo Working Paper Series 10603, CESifo.
    25. George Economides & Dimitris Papageorgiou & Apostolis Philippopoulos, 2020. "Macroeconomic Policy Lessons for Greece from the Debt Crisis," CESifo Working Paper Series 8188, CESifo.
    26. Reis, Ricardo, 2015. "Comment on: “when does a central bank’s balance sheet require fiscal support?” by Marco Del Negro and Christopher A. Sims," LSE Research Online Documents on Economics 65867, London School of Economics and Political Science, LSE Library.
    27. Jean Barthélemy & Eric Mengus & Guillaume Plantin, 2020. "Public Liquidity Demand and Central Bank Independence," Working papers 747, Banque de France.
    28. Tischbirek, Andreas, 2018. "Large-scale bond purchases in a currency union with segmentation in the market for government debt," Journal of Economic Dynamics and Control, Elsevier, vol. 95(C), pages 37-69.
    29. Atsushi Tanaka, 2021. "Central Bank Capital and Credibility: A Literature Survey," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 63(2), pages 249-262, June.
    30. Todd Keister & Antoine Martin & James J. McAndrews, 2015. "Floor systems and the Friedman rule: the fiscal arithmetic of open market operations," Staff Reports 754, Federal Reserve Bank of New York.
    31. Margarita Irizepova, 2015. "Historical Evolution of Economic Category “State Financial Reservesâ€," European Research Studies Journal, European Research Studies Journal, vol. 0(3), pages 103-114.

  14. Marco Bassetto & Narayana Kocherlakota, 2010. "On the Irrelevance of Government Debt When Taxes are Distortionary," Levine's Working Paper Archive 506439000000000295, David K. Levine.

    Cited by:

    1. Piero Gottardi & Atsushi Kajii & Tomoyuki Nakajima, 2014. "Optimal taxation and debt with uninsurable risks to human capital accumulation," CIGS Working Paper Series 14-007E, The Canon Institute for Global Studies.
    2. Marco Bassetto, 2009. "The Research Agenda: Marco Bassetto on the Quantitative Evaluation of Fiscal Policy Rules," EconomicDynamics Newsletter, Review of Economic Dynamics, vol. 10(2), April.
    3. Bhandari, Anmol & Evans, David & Golosov, Mikhail & Sargent, Thomas J., 2017. "Public debt in economies with heterogeneous agents," Journal of Monetary Economics, Elsevier, vol. 91(C), pages 39-51.
    4. Dirk Niepelt & Martin Gonzalez-Eiras, 2008. "Economic and Politico-Economic Equivalence of Fiscal Policies," 2008 Meeting Papers 631, Society for Economic Dynamics.
    5. ,, 2018. "Financial Policy," CEPR Discussion Papers 12755, C.E.P.R. Discussion Papers.
    6. YiLi Chien & Yi Wen & HsinJung Wu, 2020. "Are Government Bonds Net Wealth or a Liability? ---Optimal Debt and Taxes in an OLG Model with Uninsurable Income Risk," Working Papers 2020-007, Federal Reserve Bank of St. Louis, revised 03 Jan 2021.
    7. Andreas Schabert & Leopold Von Thadden, 2009. "Distortionary Taxation, Debt, and the Price Level," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 41(1), pages 159-188, February.
    8. Andreas Schabert & Leopold Von Thadden, 2009. "Distortionary Taxation, Debt, and the Price Level," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 41(1), pages 159-188, February.
    9. Martín Gonzalez-Eiras & Dirk Niepelt, 2012. "Economic and Politico-Economic Equivalence," Working Papers 12.02, Swiss National Bank, Study Center Gerzensee.
    10. Salvador Ball & Amadéo Spadaro, 2006. "Optimal nonlinear labor income taxation in dynamic economies," Working Papers halshs-00590555, HAL.
    11. Martin Gonzalez-Eiras & Dirk Niepelt, 2015. "Politico-Economic Equivalence," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 18(4), pages 843-862, October.
    12. Grochulski, Borys & Piskorski, Tomasz, 2010. "Risky human capital and deferred capital income taxation," Journal of Economic Theory, Elsevier, vol. 145(3), pages 908-943, May.
    13. Narayana R. Kocherlakota, 2005. "Zero Expected Wealth Taxes: A Mirrlees Approach to Dynamic Optimal Taxation," Econometrica, Econometric Society, vol. 73(5), pages 1587-1621, September.
    14. YiLi Chien & Yi Wen, 2019. "The Determination of Public Debt under both Aggregate and Idiosyncratic Uncertainty," Working Papers 2019-038, Federal Reserve Bank of St. Louis, revised 28 Apr 2022.
    15. Cunha, Alexandre B., 2005. "Managing Public Debt, Money Supply and Foreign Assets: Some Indeterminacy Results," Revista Brasileira de Economia - RBE, EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil), vol. 59(3), July.
    16. François Le Grand & Xavier Ragot, 2017. "Optimal Fiscal Policy with Heterogeneous Agents and Aggregate Shocks," SciencePo Working papers Main hal-03458683, HAL.
    17. Salvador Balle & Amedeo Spadaro, 2006. "Optimal Nonlinear Labor Income Taxation in Dynamic Economies," Working Papers 19, ECINEQ, Society for the Study of Economic Inequality.
    18. Robert Grafstein, 2009. "The Puzzle of Weak Pocketbook Voting," Journal of Theoretical Politics, , vol. 21(4), pages 451-482, October.
    19. Piero Gottardi & Atsushi Kajii & Tomoyuki Nakajima, 2011. "Optimal Taxation and Constrained Inefficiency in an Infinite-Horizon Economy with Incomplete Markets," CESifo Working Paper Series 3560, CESifo.
    20. Fernando Martin, 2009. "A Positive Theory of Government Debt," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 12(4), pages 608-631, October.
    21. Divino, José Angelo & Orrillo, Jaime, 2017. "Failure of the Ricardian Equivalence Theory in Economies with Incomplete Markets," Brazilian Review of Econometrics, Sociedade Brasileira de Econometria - SBE, vol. 37(1), May.
    22. Narayana R. Kocherlakota, 2010. "Introduction," Introductory Chapters, in: The New Dynamic Public Finance, Princeton University Press.
    23. Anmol Bhandari & David Evans & Mikhail Golosov & Thomas J. Sargent, 2013. "Taxes, Debts, and Redistributions with Aggregate Shocks," NBER Working Papers 19470, National Bureau of Economic Research, Inc.
    24. Jose Angelo Divino & Jaime Orrillo, 2022. "Robust effects of a debt-financed tax cut in an economy with incomplete markets," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 29(1), pages 191-200, February.
    25. YiLi Chien & Yi Wen, 2020. "Time-Inconsistent Optimal Quantity of Debt," Working Papers 2020-037, Federal Reserve Bank of St. Louis, revised 02 Sep 2021.
    26. Luis Felipe Vital Nunes Pereira & José ÂngeloDivino, 2011. "Are Latin-AmericanHouseholds Neutral to Increases In Government Spending?," Anais do XXXVII Encontro Nacional de Economia [Proceedings of the 37th Brazilian Economics Meeting] 61, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    27. Alexandre Cunha, 2013. "On the relevance of floating exchange rate policies," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 53(2), pages 357-382, June.
    28. Cunha, Alexandre B., 2005. "A Direct Proof of the First Welfare Theorem," Insper Working Papers wpe_30, Insper Working Paper, Insper Instituto de Ensino e Pesquisa.
    29. Alexandre B. Cunha, 2006. "Implications of the Modigliani-Miller Theorem for the Study of Exchange Rate Regimes," IBMEC RJ Economics Discussion Papers 2006-03, Economics Research Group, IBMEC Business School - Rio de Janeiro.

  15. Marco Bassetto & Leslie McGranahan, 2009. "On the relationship between mobility, population growth, and capital spending in the United States," Working Paper Series WP-09-25, Federal Reserve Bank of Chicago.

    Cited by:

    1. Marina Azzimonti, 2012. "The dynamics of public investment under persistent electoral advantag," 2012 Meeting Papers 91, Society for Economic Dynamics.
    2. Giuseppe Bertola, 2011. "The Role of the State in Society - Government vs. Citizen Responsibility," CESifo Forum, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 12(03), pages 32-37, December.
    3. Marco Bassetto & Leslie McGranahan, 2021. "Mobility, Population Growth, and Public Capital Spending in the United States," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 41, pages 255-277, July.
    4. Thomas J. Holmes & Lee E. Ohanian, 2014. "Pay with Promises or Pay as You Go? Lessons from the Death Spiral of Detroit," Staff Report 501, Federal Reserve Bank of Minneapolis.
    5. Busilac, Aileen Jean & Deluna, Roperto Jr, 2013. "The Relationship between Population Dynamics and Investments for Energy and Telecommunication Infrastructures in the Philippines," MPRA Paper 51845, University Library of Munich, Germany.
    6. Marina Azzimonti, 2014. "Online Appendix to "The dynamics of public investment under persistent electoral advantage"," Online Appendices 12-228, Review of Economic Dynamics.

  16. Marco Bassetto, 2008. "Public investment and budget rules for state vs. local governments," Working Paper Series WP-08-21, Federal Reserve Bank of Chicago.

    Cited by:

    1. Marco Bassetto, 2009. "The Research Agenda: Marco Bassetto on the Quantitative Evaluation of Fiscal Policy Rules," EconomicDynamics Newsletter, Review of Economic Dynamics, vol. 10(2), April.
    2. Marco Bassetto & Leslie McGranahan, 2011. "On the Relationship Between Mobility, Population Growth, and Capital Spending in the United States," NBER Working Papers 16970, National Bureau of Economic Research, Inc.
    3. Marco Bassetto & Leslie McGranahan, 2021. "Mobility, Population Growth, and Public Capital Spending in the United States," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 41, pages 255-277, July.

  17. Marco Bassetto & Vadym Lepetyuk, 2007. "Government Investment and the European Stability and Growth Pact," NBER Working Papers 13200, National Bureau of Economic Research, Inc.

    Cited by:

    1. Marco Bassetto, 2009. "The Research Agenda: Marco Bassetto on the Quantitative Evaluation of Fiscal Policy Rules," EconomicDynamics Newsletter, Review of Economic Dynamics, vol. 10(2), April.
    2. Marco Bassetto & Leslie McGranahan, 2011. "On the Relationship Between Mobility, Population Growth, and Capital Spending in the United States," NBER Working Papers 16970, National Bureau of Economic Research, Inc.
    3. Marco Bassetto & Leslie McGranahan, 2021. "Mobility, Population Growth, and Public Capital Spending in the United States," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 41, pages 255-277, July.

  18. Marco Bassetto & Jess Benhabib, 2006. "Redistribution, taxes, and the median voter," Working Paper Series WP-06-02, Federal Reserve Bank of Chicago.

    Cited by:

    1. Facundo Piguillem & Alessandro Riboni, 2016. "Dynamic Bargaining over Redistribution in Legislatures," Working Papers 2016-15, Center for Research in Economics and Statistics.
    2. Jinhui H. Bai & Ruediger Bachmann, 2010. "Government Purchases Over the Business Cycle: the Role of Heterogeneity and Wealth Bias in Political Decision Making," 2010 Meeting Papers 621, Society for Economic Dynamics.
    3. Facundo Piguillem & Anderson Schneider, 2013. "Heterogeneous Labor Skills, The Median Voter and Labor Taxes," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 16(2), pages 332-349, April.
    4. Marco Bassetto & Wei Cui, 2021. "A Ramsey Theory of Financial Distortions," Discussion Papers 2107, Centre for Macroeconomics (CFM).
    5. François Gourio, 2008. "Is there a majority to support a capital tax cut?," Boston University - Department of Economics - Working Papers Series wp2008-001, Boston University - Department of Economics.
    6. Bonnet, Odran & Chapelle, Guillaume & Trannoy, Alain & Wasmer, Etienne, 2021. "Land is back, it should be taxed, it can be taxed," European Economic Review, Elsevier, vol. 134(C).
    7. Odran Bonnet & Guillaume Chapelle & Alain Trannoy & Etienne Wasmer, 2019. "Secular trends in Wealth and Heterogeneous Capital: Land is back...and should be taxed," Sciences Po publications 92, Sciences Po.
    8. Daniel Carroll & Jim Dolmas & Eric Young, 2021. "The Politics of Flat Taxes," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 39, pages 174-201, January.
    9. YiLi Chien & Yi Wen, 2022. "Optimal Ramsey Taxation in Heterogeneous Agent Economies with Quasi-Linear Preferences," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 46, pages 124-160, October.
    10. Sarolta Laczo & Albert Marcet & Katharina Greulich, 2015. "Pareto-Improving Optimal Capital and Labor Taxes," 2015 Meeting Papers 951, Society for Economic Dynamics.
    11. Varadarajan Chari & Juan Pablo Nicolini & Pedro Teles, 2018. "Ramsey Taxation in the Open Economy," 2018 Meeting Papers 806, Society for Economic Dynamics.
    12. Jean Guillaume Forand & John Duggan, 2013. "Markovian Elections," Working Papers 1305, University of Waterloo, Department of Economics, revised Oct 2013.
    13. César Martinelli & John Duggan, 2014. "The Political Economy of Dynamic Elections: A Survey and Some New Results," Working Papers 1403, Centro de Investigacion Economica, ITAM.
    14. Juan Carlos Conesa & Begona Dominguez, 2018. "Capital Taxes and Redistribution: The Role of Management Time and Tax Deductible Investment," Department of Economics Working Papers 18-10, Stony Brook University, Department of Economics.
    15. Azzimonti, Marina & de Francisco, Eva & Krusell, Per, 2008. "Production subsidies and redistribution," Journal of Economic Theory, Elsevier, vol. 142(1), pages 73-99, September.
    16. Alexander Wolitzky & Florian Scheuer, 2014. "Capital Taxation under Political Constraints," 2014 Meeting Papers 191, Society for Economic Dynamics.
    17. Thomas Blanchet, 2022. "Uncovering the Dynamics of the Wealth Distribution," Papers 2211.15509, arXiv.org.
    18. Kirill Borissov & Alexander Surkov, 2010. "Endogenous Growth in a Model with Heterogeneous Agents and Voting on Public Goods," EUSP Department of Economics Working Paper Series 2010/01, European University at St. Petersburg, Department of Economics, revised 29 Sep 2010.
    19. Bishnu, Monisankar & Wang, Min, 2013. "Voting under temptation," Staff General Research Papers Archive 36386, Iowa State University, Department of Economics.
    20. Valerio Dotti, 2021. "Reaching across the aisle to block reforms," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 72(2), pages 533-578, September.
    21. Daniel R. Carroll, 2013. "The demand for income tax progressivity in the growth model," Working Papers (Old Series) 1106, Federal Reserve Bank of Cleveland.
    22. V. V. Chari & Juan Pablo Nicolini & Pedro Teles, 2017. "Ramsey Taxation in the Global Economy," Working Papers 745, Federal Reserve Bank of Minneapolis.
    23. V. V. Chari & Juan Pablo Nicolini & Pedro Teles, 2018. "Optimal Capital Taxation Revisited," Staff Report 571, Federal Reserve Bank of Minneapolis.
    24. Yuta Saito, 2019. "Political Representation and Legislative Bargaining over Redistribution," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 25(3), pages 251-262, August.
    25. Marina Azzimonti-Renzo & Eva De Francisco & Per Krusell, 2006. "The political economy of labor subsidies," Working Paper 06-09, Federal Reserve Bank of Richmond.
    26. Lopez-Velasco, Armando R., 2020. "Voting over redistribution in the Meltzer–Richard model under interdependent labor inputs," Economics Letters, Elsevier, vol. 192(C).
    27. Ruediger Bachmann & Jinhui Bai, 2012. "Online Appendix to "Politico-Economic Inequality and the Comovement of Government Purchases"," Online Appendices 11-243, Review of Economic Dynamics.
    28. Sita Nataraj Slavov, 2014. "Public Versus Private Provision of Public Goods," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 16(2), pages 222-258, April.
    29. Ludwig Straub & Iván Werning, 2014. "Positive Long Run Capital Taxation: Chamley-Judd Revisited," NBER Working Papers 20441, National Bureau of Economic Research, Inc.
    30. Juan Carlos Conesa & Begona Dominguez, 2019. "Online Appendix to "Capital Taxes and Redistribution: The Role of Management Time and Tax Deductible Investment"," Online Appendices 19-30, Review of Economic Dynamics.
    31. Dotti, Valerio, 2019. "Political Parties and Policy Outcomes. Do Parties Block Reforms?," MPRA Paper 100227, University Library of Munich, Germany.

  19. Marco Bassetto & Christopher Phelan, 2006. "Tax riots," Working Paper Series WP-06-04, Federal Reserve Bank of Chicago.

    Cited by:

    1. Kocherlakota, Narayana & Phelan, Christopher, 2009. "On the robustness of laissez-faire," Journal of Economic Theory, Elsevier, vol. 144(6), pages 2372-2387, November.
    2. Roberto Galbiati & Giulio Zanella, 2012. "The tax evasion social multiplier: Evidence from Italy," Sciences Po publications info:hdl:2441/2jbidihgpo8, Sciences Po.
    3. Cristina Arellano & Narayana Kocherlakota, 2008. "Internal Debt Crises and Sovereign Defaults," Levine's Bibliography 122247000000001880, UCLA Department of Economics.
    4. Florian Scheuer, 2013. "Optimal Asset Taxes in Financial Markets with Aggregate Uncertainty," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 16(3), pages 405-420, July.
    5. Tatiana Damjanovic & David Ulph, 2009. "Tax Progressivity, Income Distribution and Tax Non-Compliance," Working Papers 0928, Oxford University Centre for Business Taxation.
    6. Felix J., Bierbrauer, 2011. "On the optimality of optimal income taxation," Journal of Economic Theory, Elsevier, vol. 146(5), pages 2105-2116, September.
    7. Eduardo Zilberman, 2016. "Audits or Distortions: The Optimal Scheme to Enforce Self-Employment Income Taxes," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 18(4), pages 511-544, August.
    8. Restrepo-Echavarria, Paulina, 2014. "Macroeconomic volatility: The role of the informal economy," European Economic Review, Elsevier, vol. 70(C), pages 454-469.
    9. Pagnozzi, Marco & Piccolo, Salvatore, 2017. "Contracting with endogenous entry," International Journal of Industrial Organization, Elsevier, vol. 51(C), pages 85-110.
    10. Carrasco, Vinicius & Salgado, Pablo, 2014. "Coordinated strategic defaults and financial fragility in a costly state verification model," Journal of Financial Intermediation, Elsevier, vol. 23(1), pages 129-139.
    11. Zoutman, Floris T. & Jacobs, Bas, 2016. "Optimal redistribution and monitoring of labor supply," Journal of Public Economics, Elsevier, vol. 135(C), pages 15-31.
    12. Bierbrauer, Felix & Sahm, Marco, 2010. "Optimal democratic mechanisms for taxation and public good provision," Journal of Public Economics, Elsevier, vol. 94(7-8), pages 453-466, August.
    13. Sanchez Villalba, Miguel, 2015. "Global inspection games," Journal of Public Economics, Elsevier, vol. 128(C), pages 59-72.

  20. Marco Bassetto & Thomas J. Sargent, 2005. "Politics and efficiency of separating capital and ordinary Government budgets," Working Paper Series WP-05-07, Federal Reserve Bank of Chicago.

    Cited by:

    1. Dirk Niepelt & Martín Gonzalez-Eiras, 2011. "Ageing, Government Budgets, Retirement, and Growth," Working Papers 11.06, Swiss National Bank, Study Center Gerzensee.
    2. Marco Bassetto, 2008. "Public investment and budget rules for state vs. local governments," Working Paper Series WP-08-21, Federal Reserve Bank of Chicago.
    3. Natvik, Gisle J., 2013. "The political economy of fiscal deficits and government production," European Economic Review, Elsevier, vol. 58(C), pages 81-94.
    4. Marco Bassetto, 2009. "The Research Agenda: Marco Bassetto on the Quantitative Evaluation of Fiscal Policy Rules," EconomicDynamics Newsletter, Review of Economic Dynamics, vol. 10(2), April.
    5. Marco Bassetto & Thomas Sargent, 2005. "Politics and Efficiency of Separating Capital and Ordinary Government Budgets," NBER Working Papers 11030, National Bureau of Economic Research, Inc.
    6. Roel M.W.J. Beetsma & Frederick van der Ploeg, 2007. "Partisan Public Investment and Debt: The Case for Fiscal Restrictions," Economics Working Papers ECO2007/37, European University Institute.
    7. ,, 2018. "Financial Policy," CEPR Discussion Papers 12755, C.E.P.R. Discussion Papers.
    8. Vladimir V. Dashkeev & Stephen J. Turnovsky, 2023. "Tax systems and public borrowing limits in a fiscal union," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 30(2), pages 351-395, April.
    9. Veronica Grembi & Tommaso Nannicini & Ugo Troiano, 2012. "Policy Responses to Fiscal Restraints: A Difference-in-Discontinuities Design," CESifo Working Paper Series 3999, CESifo.
    10. Alesina, A. & Passalacqua, A., 2016. "The Political Economy of Government Debt," Handbook of Macroeconomics, in: J. B. Taylor & Harald Uhlig (ed.), Handbook of Macroeconomics, edition 1, volume 2, chapter 0, pages 2599-2651, Elsevier.
    11. Marco Battaglini & Stephen Coate, 2006. "A Dynamic Theory of Public Spending, Taxation and Debt," NajEcon Working Paper Reviews 321307000000000026, www.najecon.org.
    12. Assar Lindbeck & Dirk Niepelt, 2005. "Improving the SGP: Taxes and Delegation rather than Fines," CESifo Working Paper Series 1389, CESifo.
    13. Marina Halac & Pierre Yared, 2019. "Fiscal Rules and Discretion under Limited Enforcement," NBER Working Papers 25463, National Bureau of Economic Research, Inc.
    14. Marco Bassetto & Leslie McGranahan, 2011. "On the Relationship Between Mobility, Population Growth, and Capital Spending in the United States," NBER Working Papers 16970, National Bureau of Economic Research, Inc.
    15. Uchida, Yuki & Ono, Tetsuo, 2023. "Borrowing to Finance Public Investment: A Politico-Economic Analysis of Fiscal Rules," MPRA Paper 119724, University Library of Munich, Germany.
    16. Marco Bassetto & Vadym Lepetyuk, 2007. "Government investment and the European stability and growth pact," Economic Perspectives, Federal Reserve Bank of Chicago, vol. 31(Q III), pages 33-43.
    17. Marco Bassetto & Leslie McGranahan, 2021. "Mobility, Population Growth, and Public Capital Spending in the United States," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 41, pages 255-277, July.
    18. Eric Maskin & Jean Tirole, 2006. "Public-private Partnerships and Government Spending Limits," Economics Working Papers 0075, Institute for Advanced Study, School of Social Science.
    19. Fernando Broner & Alberto Martin & Jaume Ventura, 2021. "On Public Spending and Economic Unions," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 69(1), pages 122-154, March.
    20. Barseghyan, Levon & Coate, Stephen, 2021. "Community development by public wealth accumulation," Journal of Urban Economics, Elsevier, vol. 121(C).
    21. Bom, Pedro R.D., 2019. "Fiscal rules and the intergenerational welfare effects of public investment," Economic Modelling, Elsevier, vol. 81(C), pages 455-470.
    22. Fiva, Jon H. & Natvik, Gisle James, 2009. "Do Re-election Probabilities Influence Public Investment?," Memorandum 16/2009, Oslo University, Department of Economics.
    23. , & Gonzalez-Eiras, Martin, 2007. "Population Ageing, Government Budgets, and Productivity Growth in Politico-Economic Equilibrium," CEPR Discussion Papers 6581, C.E.P.R. Discussion Papers.
    24. Dashkeev, Vladimir V & Turnovsky, Stephen J, 2018. "Balanced-budget rules and risk-sharing in a fiscal union," Journal of Macroeconomics, Elsevier, vol. 57(C), pages 277-298.
    25. Cavallo, Eduardo A. & Izquierdo, Alejandro & Ardanaz, Martín & Puig, Jorge, 2020. "Growth-friendly Fiscal Rules?: Safeguarding Public Investment from Budget Cuts through Fiscal Rule Design," IDB Publications (Working Papers) 10159, Inter-American Development Bank.
    26. Shenzhe Jiang & Jianjun Miao & Yuzhe Zhang, 2022. "China'S Housing Bubble, Infrastructure Investment, And Economic Growth," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 63(3), pages 1189-1237, August.
    27. Pedro R. D. Bom & Jenny Ligthart, 2011. "Public Infrastructure Investment, Output Dynamics, and Balanced Budget Fiscal Rules," International Center for Public Policy Working Paper Series, at AYSPS, GSU paper1119, International Center for Public Policy, Andrew Young School of Policy Studies, Georgia State University.
    28. Marco Bassetto & Zhen Huo & José-Víctor Ríos-Rull, 2018. "Organizational Equilibrium with Capital," NBER Working Papers 25376, National Bureau of Economic Research, Inc.
    29. Klein, Paul, 2004. "Time Consistent Public Expenditures," CEPR Discussion Papers 4582, C.E.P.R. Discussion Papers.
    30. Sajid Amin Javed, 2019. "Limitless Deficit Financing for Economic Prosperity: Where They Got Keynes’s Deficit Spending Wrong? تمويل العجز بلا حدود من أجل الرخاء الاقتصادي: كيف أخطأوا فهم فكرة تمويل العجز لكينز؟," Journal of King Abdulaziz University: Islamic Economics, King Abdulaziz University, Islamic Economics Institute., vol. 32(1), pages 97-109, January.
    31. Fernando Martin, 2018. "The Value of Constraints on Discretionary Government Policy," 2018 Meeting Papers 267, Society for Economic Dynamics.
    32. Deng, Zhongqi & Song, Shunfeng & Chen, Yongjun, 2016. "Private participation in infrastructure project and its impact on the project cost," China Economic Review, Elsevier, vol. 39(C), pages 63-76.
    33. Darong Dai & Dennis W. Jansen & Liqun Liu, 2021. "Inter-jurisdiction migration and the fiscal policies of local governments," Journal of Economics, Springer, vol. 132(2), pages 133-164, March.
    34. Roel M.W.J.Beetsma & Frederick van der Ploeg, 2007. "The political economy of public investment," European Economy - Economic Papers 2008 - 2015 276, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    35. Fernando Martin, 2019. "How to Starve the Beast: Fiscal and Monetary Policy Rules," 2019 Meeting Papers 1181, Society for Economic Dynamics.
    36. Darong Dai & Guoqiang Tian, 2023. "Optimal interregional redistribution and local budget rules with multidimensional heterogeneity," Review of Economic Design, Springer;Society for Economic Design, vol. 27(1), pages 79-124, February.
    37. Brian C. Albrecht & Joshua R. Hendrickson & Alexander William Salter, 2022. "Evolution, uncertainty, and the asymptotic efficiency of policy," Public Choice, Springer, vol. 192(1), pages 169-188, July.
    38. Marco Battaglini, 2009. "On the Case for a Balanced Budget Amendment to the U.S. Constitution," 2009 Meeting Papers 131, Society for Economic Dynamics.
    39. Ms. Davina F. Jacobs, 2008. "A Review of Capital Budgeting Practices," IMF Working Papers 2008/160, International Monetary Fund.
    40. Assar Lindbeck & Dirk Niepelt, 2006. "The Stability Pact - Rationales, Problems, Alternatives," Working Papers 06.03, Swiss National Bank, Study Center Gerzensee.
    41. Kamiguchi, Akira & Tamai, Toshiki, 2023. "Public investment, national debt, and economic growth: The role of debt finance under dynamic inefficiency," Journal of Macroeconomics, Elsevier, vol. 77(C).
    42. Shenzhe Jiang & Jianjun Miao & Yuzhe Zhang, 2019. "China’s Housing Bubble, Infrastructure Investment, and Economic Growth," Boston University - Department of Economics - Working Papers Series WP2020-005, Boston University - Department of Economics.
    43. Fernando M. Martin, 2019. "How to Starve the Beast: Fiscal Policy Rules," Working Papers 2019-026, Federal Reserve Bank of St. Louis, revised 08 Aug 2023.
    44. Philipp Harms & Joachim Lutz, 2014. "Foreign vs. domestic public debt and the composition of government expenditure: A political-economy approach," Working Papers 1415, Gutenberg School of Management and Economics, Johannes Gutenberg-Universität Mainz, revised 20 Nov 2014.

  21. Marco Bassetto, 2002. "Equilibrium and government commitment," Working Papers 624, Federal Reserve Bank of Minneapolis.

    Cited by:

    1. Gaballo, Gaetano & Mengus, Eric, 2023. "Myopic fiscal objectives and long-Run monetary efficiency," Journal of Monetary Economics, Elsevier, vol. 136(C), pages 1-17.
    2. Marco Bassetto, 2008. "Public investment and budget rules for state vs. local governments," Working Paper Series WP-08-21, Federal Reserve Bank of Chicago.
    3. O. Loisel, 2015. "The Implementation of Stabilization Policy," Working papers 556, Banque de France.
    4. Marco Bassetto, 2000. "A Game-Theoretic View of the Fiscal Theory of the Price Level," Econometric Society World Congress 2000 Contributed Papers 1492, Econometric Society.
    5. John H. Cochrane, 2007. "Determinacy and Identification with Taylor Rules," NBER Working Papers 13410, National Bureau of Economic Research, Inc.
    6. Bhandari, Anmol & Evans, David & Golosov, Mikhail & Sargent, Thomas J., 2017. "Public debt in economies with heterogeneous agents," Journal of Monetary Economics, Elsevier, vol. 91(C), pages 39-51.
    7. Roc Armenter, 2013. "The perils of nominal targets," Working Papers 14-2, Federal Reserve Bank of Philadelphia.
    8. Andrew Atkeson & Varadarajan V. Chari & Patrick J. Kehoe, 2010. "Sophisticated Monetary Policies," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 125(1), pages 47-89.
    9. E. Mengus, 2014. "International Bailouts: Why Did Banks' Collective Bet Lead Europe to Rescue Greece?," Working papers 502, Banque de France.
    10. Wouter J. DenHaan, 2002. "Temporary Shocks and Unavoidable Transistions to a High-Unemployment Regime," NBER Working Papers 9349, National Bureau of Economic Research, Inc.
    11. Christos Shiamptanis, 2012. "Risk Assessment Under a Non-linear Fiscal Rule," Working Papers 038, Ryerson University, Department of Economics.
    12. Taisuke Nakata, 2017. "Online Appendix to "Reputation and Liquidity Traps"," Online Appendices 15-55, Review of Economic Dynamics.
    13. Lawrence Christiano & Husnu Dalgic & Xiaoming Li, 2022. "Modelling the Great Recession as a Bank Panic: Challenges," Economica, London School of Economics and Political Science, vol. 89(S1), pages 200-238, June.
    14. Marco Bassetto & Jess Benhabib, 2006. "Redistribution, Taxes, and the Median Voter," 2006 Meeting Papers 78, Society for Economic Dynamics.
    15. Jean Barthélemy & Eric Mengus, 2016. "The Signaling Effect of Raising Inflation," Sciences Po publications 2016-06, Sciences Po.
    16. Marco Bassetto & Wei Cui, 2018. "The Fiscal Theory of the Price Level in an Environment of Low Interest Rates," 2018 Meeting Papers 574, Society for Economic Dynamics.
    17. Huberto M. Ennis, 2005. "Complementariedades y Política Macroeconómica," Department of Economics, Working Papers 054, Departamento de Economía, Facultad de Ciencias Económicas, Universidad Nacional de La Plata.
    18. Salvatore Nistico & Pierpaolo Benigno, 2017. "Non-Neutrality of Open Market Operations," 2017 Meeting Papers 574, Society for Economic Dynamics.
    19. Javier Bianchi & Louphou Coulibaly, 2023. "A Theory of Fear of Floating," NBER Working Papers 30897, National Bureau of Economic Research, Inc.
    20. Taisuke Nakata, 2014. "Reputation and Liquidity Traps," 2014 Meeting Papers 61, Society for Economic Dynamics.
    21. Bassetto, Marco & Cui, Wei, 2018. "The fiscal theory of the price level in a world of low interest rates," Journal of Economic Dynamics and Control, Elsevier, vol. 89(C), pages 5-22.
    22. Bassetto, Marco, 2019. "Forward guidance: Communication, commitment, or both?," Journal of Monetary Economics, Elsevier, vol. 108(C), pages 69-86.
    23. Cui, Wei, 2016. "Monetary–fiscal interactions with endogenous liquidity frictions," European Economic Review, Elsevier, vol. 87(C), pages 1-25.
    24. Antoine Camous & Dmitry Matveev, 2023. "The Central Bank Strikes Back! Credibility of Monetary Policy under Fiscal Influence," The Economic Journal, Royal Economic Society, vol. 133(649), pages 1-29.
    25. Russell Cooper & Antoine Camous, 2016. ""Whatever it takes" is all you need: monetary policy and debt fragility," 2016 Meeting Papers 863, Society for Economic Dynamics.
    26. George-Marios Angeletos & Chen Lian, 2021. "Determinacy without the Taylor Principle," NBER Working Papers 28881, National Bureau of Economic Research, Inc.
    27. Lawrence J. Christiano, 2017. "Comment on "Michelson-Morley, Fisher, and Occam: The Radical Implications of Stable Quiet Inflation at the Zero Bound"," NBER Chapters, in: NBER Macroeconomics Annual 2017, volume 32, pages 227-245, National Bureau of Economic Research, Inc.
    28. Ennis, Huberto M. & Keister, Todd, 2005. "Optimal fiscal policy under multiple equilibria," Journal of Monetary Economics, Elsevier, vol. 52(8), pages 1359-1377, November.
    29. Pedro Teles & Juan Nicolini & Gaston Navarro & Joao Ayres, 2015. "Sovereign Default: The Role of Expectations," 2015 Meeting Papers 1505, Society for Economic Dynamics.
    30. Galli, Carlo, 2019. "Self-fulfilling debt crises, fiscal policy and investment," LSE Research Online Documents on Economics 100942, London School of Economics and Political Science, LSE Library.
    31. Lawrence J. Christiano & Terry J. Fitzgerald, 2000. "Understanding the Fiscal Theory of the Price Level," NBER Working Papers 7668, National Bureau of Economic Research, Inc.
    32. Ennis, Huberto M. & Keister, Todd, 2010. "Banking panics and policy responses," Journal of Monetary Economics, Elsevier, vol. 57(4), pages 404-419, May.
    33. Huberto M. Ennis & Todd Keister, 2006. "Banking Policy without Commitment: Suspension of Convertibility Taken Seriously," 2006 Meeting Papers 464, Society for Economic Dynamics.
    34. Todd Keister & Huberto M. Ennis, 2007. "Commitment and Equilibrium Bank Runs," 2007 Meeting Papers 509, Society for Economic Dynamics.
    35. Canzoneri, Matthew & Cumby, Robert & Diba, Behzad, 2010. "The Interaction Between Monetary and Fiscal Policy," Handbook of Monetary Economics, in: Benjamin M. Friedman & Michael Woodford (ed.), Handbook of Monetary Economics, edition 1, volume 3, chapter 17, pages 935-999, Elsevier.
    36. Anastasios G. Karantounias, 2017. "Optimal Time-Consistent Taxation with Default," FRB Atlanta Working Paper 2017-12, Federal Reserve Bank of Atlanta.
    37. Dennis Wesselbaum, 2019. "Expectation shocks and fiscal rules," International Economics and Economic Policy, Springer, vol. 16(2), pages 357-377, April.
    38. Obstfeld, Maurice & Rogoff, Kenneth, 2017. "Revisiting Speculative Hyperinflations in Monetary Models," CEPR Discussion Papers 12051, C.E.P.R. Discussion Papers.
    39. Marco Bassetto & Christopher Phelan, 2013. "Speculative Runs on Interest Rate Pegs," NBER Working Papers 18864, National Bureau of Economic Research, Inc.
    40. Cunha, Alexandre B., 2005. "A Direct Proof of the First Welfare Theorem," Insper Working Papers wpe_30, Insper Working Paper, Insper Instituto de Ensino e Pesquisa.
    41. Den Haan, Wouter J., 2003. "Temporary shocks and unavoidable transitions to a high-unemployment regime," Working Paper Series 239, European Central Bank.
    42. Alexandre B. Cunha, 2006. "Implications of the Modigliani-Miller Theorem for the Study of Exchange Rate Regimes," IBMEC RJ Economics Discussion Papers 2006-03, Economics Research Group, IBMEC Business School - Rio de Janeiro.

  22. Marco Bassetto, 2000. "A Game-Theoretic View of the Fiscal Theory of the Price Level," Econometric Society World Congress 2000 Contributed Papers 1492, Econometric Society.

    Cited by:

    1. Gaballo, Gaetano & Mengus, Eric, 2023. "Myopic fiscal objectives and long-Run monetary efficiency," Journal of Monetary Economics, Elsevier, vol. 136(C), pages 1-17.
    2. Francesco Bianchi, 2011. "Monetary/Fiscal Policy Mix and Agents' Beliefs," 2011 Meeting Papers 156, Society for Economic Dynamics.
    3. Marco Bassetto, 2002. "Equilibrium and government commitment," Working Papers 624, Federal Reserve Bank of Minneapolis.
    4. Francesco Bianchi & Renato Faccini & Leonardo Melosi, 2020. "Monetary and Fiscal Policies in Times of Large Debt: Unity is Strength," NBER Working Papers 27112, National Bureau of Economic Research, Inc.
    5. Marco Bassetto, 2004. "Negative Nominal Interest Rates," American Economic Review, American Economic Association, vol. 94(2), pages 104-108, May.
    6. O. Loisel, 2015. "The Implementation of Stabilization Policy," Working papers 556, Banque de France.
    7. Boris Chafwehé & Rigas Oikonomou & Romanos Priftis & Lukas Vogel, 2021. "(Optimal) Monetary Policy with and without Debt," Staff Working Papers 21-5, Bank of Canada.
    8. Jean Barthélemy & Eric Mengus, 2017. "Credibility and Monetary Policy," Sciences Po publications 2017-01, Sciences Po.
    9. Andrew Atkeson & V. V. Chari & Patrick J. Kehoe, 2007. "On the optimal choice of a monetary policy instrument," Staff Report 394, Federal Reserve Bank of Minneapolis.
    10. Eric M. Leeper & Todd B. Walker, 2011. "Perceptions and misperceptions of fiscal inflation," BIS Working Papers 364, Bank for International Settlements.
    11. Saroj Dhital & Pedro Gomis-Porqueras & Joseph H. Haslag, 2020. "Monetary and Fiscal Policy Interactions in a Frictional Model of Money, Nominal Public Debt and Banking," Working Papers 2002, Department of Economics, University of Missouri.
    12. Jeffrey R. Campbell, 2014. "Quantitative Easing in Joseph's Egypt with Keynesian Producers," Working Paper Series WP-2014-15, Federal Reserve Bank of Chicago.
    13. R. Anton Braun & Tomoyuki Nakajima, 2011. "Making the case for a low intertemporal elasticity of substitution," FRB Atlanta Working Paper 2011-13, Federal Reserve Bank of Atlanta.
    14. Bhandari, Anmol & Evans, David & Golosov, Mikhail & Sargent, Thomas J., 2017. "Public debt in economies with heterogeneous agents," Journal of Monetary Economics, Elsevier, vol. 91(C), pages 39-51.
    15. Marco Bassetto & Thomas J. Sargent, 2020. "Shotgun Wedding: Fiscal and Monetary Policy," NBER Working Papers 27004, National Bureau of Economic Research, Inc.
    16. Andrew Atkeson & Varadarajan V. Chari & Patrick J. Kehoe, 2010. "Sophisticated Monetary Policies," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 125(1), pages 47-89.
    17. Howard Kung & Gonzalo Morales & Alexandre Corhay, 2017. "Fiscal Discount Rates and Debt Maturity," 2017 Meeting Papers 840, Society for Economic Dynamics.
    18. Philippe Weil, 2002. "Reflections on the Fiscal Theory of the Price Level," Sciences Po publications info:hdl:2441/8643, Sciences Po.
    19. R. Anton Braun & Tomoyuki Nakajima, 2018. "Why Prices Don't Respond Sooner to a Prospective Sovereign Debt Crisis," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 29, pages 235-255, July.
    20. Buiter, Willem, 2017. "The Fallacy of the Fiscal Theory of the Price Level - Once More," CEPR Discussion Papers 11941, C.E.P.R. Discussion Papers.
    21. Christos Shiamptanis, 2012. "Risk Assessment Under a Non-linear Fiscal Rule," Working Papers 038, Ryerson University, Department of Economics.
    22. Leeper, E.M. & Leith, C., 2016. "Understanding Inflation as a Joint Monetary–Fiscal Phenomenon," Handbook of Macroeconomics, in: J. B. Taylor & Harald Uhlig (ed.), Handbook of Macroeconomics, edition 1, volume 2, chapter 0, pages 2305-2415, Elsevier.
    23. Boris Chafwehé & Charles de Beauffort & Rigas Oikonomou, 2022. "Optimal Monetary Policy Rules in the Fiscal Theory of the Price Level," LIDAM Discussion Papers IRES 2022026, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    24. Robert E. Hall & Ricardo Reis, 2016. "Achieving Price Stability by Manipulating the Central Bank’s Payment on Reserves," NBER Working Papers 22761, National Bureau of Economic Research, Inc.
    25. Jean Barthélemy & Eric Mengus, 2016. "The Signaling Effect of Raising Inflation," Sciences Po publications 2016-06, Sciences Po.
    26. Marco Bassetto & Wei Cui, 2018. "The Fiscal Theory of the Price Level in an Environment of Low Interest Rates," 2018 Meeting Papers 574, Society for Economic Dynamics.
    27. Betty Daniel, 2007. "The Fiscal Theory of the Price Level and Initial Government Debt," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 10(2), pages 193-206, April.
    28. Buiter, Willem, 2017. "The Good and the Bad Fiscal Theory of the Price Level," CEPR Discussion Papers 11975, C.E.P.R. Discussion Papers.
    29. Gliksberg, Baruch, "undated". "A Fixed-Point Theory of Price Level Determination in General Equilibrium," Working Papers WP2014/3, University of Haifa, Department of Economics.
    30. Campbell Leith & Eric Leeper, 2016. "Understanding Inflation as a Joint Monetary-Fiscal Phenomenon," Working Papers 2016_01, Business School - Economics, University of Glasgow.
    31. Irasema Alonso, 2004. "Persistent, Nonfundamental Exchange Rate Fluctuations," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 7(3), pages 687-706, July.
    32. Bassetto, Marco & Cui, Wei, 2018. "The fiscal theory of the price level in a world of low interest rates," Journal of Economic Dynamics and Control, Elsevier, vol. 89(C), pages 5-22.
    33. Makoto Saito, 2021. "Central Bank Cryptocurrencies in a Competitive Equilibrium Environment: Can Strong Money Demand Survive in the Digital Age?," Advances in Japanese Business and Economics, in: Strong Money Demand in Financing War and Peace, pages 161-189, Springer.
    34. John Cochrane, 2021. "Online Appendix to "A fiscal theory of monetary policy with partially repaid long-term debt"," Online Appendices 20-44, Review of Economic Dynamics.
    35. Guillaume Plantin & Eric Mengus & Jean Barthelemy, 2022. "The Central Bank, the Treasury, or the Market: Which One Determines the Price Level?," SciencePo Working papers Main hal-03792094, HAL.
    36. Marco Bassetto & Gherardo Gennaro Caracciolo, 2021. "Monetary/Fiscal Interactions with Forty Budget Constraints," Working Papers 788, Federal Reserve Bank of Minneapolis.
    37. Gliksberg, Baruch, 2013. "Monetary policy and fiscal limits with no-default," European Economic Review, Elsevier, vol. 64(C), pages 285-304.
    38. Stephen D. Williamson & Randall Wright, 2010. "New Monetarist Economics: methods," Staff Report 442, Federal Reserve Bank of Minneapolis.
    39. Saroj Bhattarai & Jae Won Lee & Choongryul Yang, 2021. "Redistribution and the Monetary–Fiscal Policy Mix," Finance and Economics Discussion Series 2021-013, Board of Governors of the Federal Reserve System (U.S.).
    40. Marco Bassetto & Todd Messer, 2013. "Fiscal consequences of paying interest on reserves," Working Paper Series WP-2013-04, Federal Reserve Bank of Chicago.
    41. Francesco Bianchi & Leonardo Melosi, 2013. "Dormant Shocks and Fiscal Virtue," Working Papers 13-12, Duke University, Department of Economics.
    42. Hideki Konishi & Kozo Ueda, 2013. "Aging and Deflation from a Fiscal Perspective," IMES Discussion Paper Series 13-E-13, Institute for Monetary and Economic Studies, Bank of Japan.
    43. Buiter, Willem H. & Sibert, Anne C., 2018. "The fallacy of the fiscal theory of the price level: One last time," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy (IfW Kiel), vol. 12, pages 1-56.
    44. Manuel Amador & Javier Bianchi, 2023. "Helicopter Drops and Liquidity Traps," Working Papers 797, Federal Reserve Bank of Minneapolis.
    45. Dat Thanh Nguyen & Viet Anh Hoang, 2020. "Monetary Consequences of Fiscal Stress in a Game Theoretic Framework," Journal of Central Banking Theory and Practice, Central bank of Montenegro, vol. 9(special i), pages 125-164.
    46. Francesco Bianchi & Leonardo Melosi, 2017. "The Dire Effects of the Lack of Monetary and Fiscal Coordination," NBER Working Papers 23605, National Bureau of Economic Research, Inc.
    47. Iovino, Luigi & La’O, Jennifer & Mascarenhas, Rui, 2022. "Optimal monetary policy and disclosure with an informationally-constrained central banker," Journal of Monetary Economics, Elsevier, vol. 125(C), pages 151-172.
    48. Francesco Bianchi & Leonardo Melosi, 2022. "Inflation as a Fiscal Limit," Working Paper Series WP 2022-37, Federal Reserve Bank of Chicago.
    49. Michael Woodford, 2001. "Fiscal Requirements for Price Stability," NBER Working Papers 8072, National Bureau of Economic Research, Inc.
    50. Marco Bassetto & David S. Miller, 2022. "A Monetary-Fiscal Theory of Sudden Inflations," Staff Report 641, Federal Reserve Bank of Minneapolis.
    51. Cochrane, John H., 2005. "Money as stock," Journal of Monetary Economics, Elsevier, vol. 52(3), pages 501-528, April.
    52. Canzoneri, Matthew & Cumby, Robert & Diba, Behzad, 2010. "The Interaction Between Monetary and Fiscal Policy," Handbook of Monetary Economics, in: Benjamin M. Friedman & Michael Woodford (ed.), Handbook of Monetary Economics, edition 1, volume 3, chapter 17, pages 935-999, Elsevier.
    53. Gliksberg, Baruch, "undated". "Solving Boundary Value Problems in the Fiscal Theory of the Price Level," Working Papers WP2013/2, University of Haifa, Department of Economics.
    54. António Afonso, 2002. "Disturbing the fiscal theory of the price level: Can it fit the eu-15?," 10th International Conference on Panel Data, Berlin, July 5-6, 2002 B4-3, International Conferences on Panel Data.
    55. Libich, Jan & Nguyen, Dat & Stehlik, Petr, 2014. "Monetary Exit and Fiscal Spillovers," MPRA Paper 57266, University Library of Munich, Germany.
    56. Vadim Elenev & Tim Landvoigt & Patrick J. Shultz & Stijn Van Nieuwerburgh, 2021. "Can Monetary Policy Create Fiscal Capacity?," NBER Working Papers 29129, National Bureau of Economic Research, Inc.
    57. Tryphonides, Andreas, 2018. "Learning from Errors: The case of monetary and fiscal policy regimes," IRTG 1792 Discussion Papers 2018-022, Humboldt University of Berlin, International Research Training Group 1792 "High Dimensional Nonstationary Time Series".
    58. Francesco Bianchi & Leonardo Melosi & Anna Rogantini Picco, 2022. "Who is Afraid of Eurobonds?," Working Paper Series WP 2022-43, Federal Reserve Bank of Chicago.
    59. Michael Kumhof, 2004. "Fiscal Crisis Resolution: Taxation Versus Inflation," 2004 Meeting Papers 874, Society for Economic Dynamics.
    60. Obstfeld, Maurice & Rogoff, Kenneth, 2017. "Revisiting Speculative Hyperinflations in Monetary Models," CEPR Discussion Papers 12051, C.E.P.R. Discussion Papers.
    61. Leopold von Thadden, 2004. "Active monetary policy, passive fiscal policy and the value of pure debt: some further monetarist arithmetic," Money Macro and Finance (MMF) Research Group Conference 2003 108, Money Macro and Finance Research Group.
    62. Chari, V.V. & Pérez, Luis, 2022. "Comment on Iovino, La’O and Mascarenhas, “Optimal Monetary Policy and Disclosure with an Informationally-Constrained Central Banker”," Journal of Monetary Economics, Elsevier, vol. 125(C), pages 173-181.
    63. Sasakura, Kazuyuki, 2021. "A macroeconomic theory of price determination," Structural Change and Economic Dynamics, Elsevier, vol. 59(C), pages 214-227.
    64. Branch, William A. & Gasteiger, Emanuel, 2019. "Endogenously (non-)Ricardian beliefs," ECON WPS - Working Papers in Economic Theory and Policy 03/2019, TU Wien, Institute of Statistics and Mathematical Methods in Economics, Economics Research Unit.
    65. Cunha, Alexandre B., 2005. "A Direct Proof of the First Welfare Theorem," Insper Working Papers wpe_30, Insper Working Paper, Insper Instituto de Ensino e Pesquisa.
    66. von Thadden, Leopold, 2004. "Active monetary policy, passive fiscal policy and the value of public debt: Some further monetarist arithmetic," Journal of Macroeconomics, Elsevier, vol. 26(2), pages 223-251, June.
    67. John H. Cochrane, 2020. "A Fiscal Theory of Monetary Policy with Partially-Repaid Long-Term Debt," NBER Working Papers 26745, National Bureau of Economic Research, Inc.
    68. Amankwah, Ernest & Atta Sarfo, Prince, 2019. "The causal linkages among money growth, inflaion and interest rates in Ghana," MPRA Paper 96485, University Library of Munich, Germany.
    69. Alexandre B. Cunha, 2006. "Implications of the Modigliani-Miller Theorem for the Study of Exchange Rate Regimes," IBMEC RJ Economics Discussion Papers 2006-03, Economics Research Group, IBMEC Business School - Rio de Janeiro.
    70. Óscar J. Arce, 2005. "Reflections on fiscalist divergent price-paths," Working Papers 0533, Banco de España.

  23. Marco Bassetto, 1999. "Political economy of taxation in an overlapping-generations economy," Discussion Paper / Institute for Empirical Macroeconomics 133, Federal Reserve Bank of Minneapolis.

    Cited by:

    1. Pica Giovanni, 2010. "Capital Markets Integration and Labor Market Institutions," The B.E. Journal of Macroeconomics, De Gruyter, vol. 10(1), pages 1-57, March.
    2. Francesco Lancia & Alessia Russo & Tim Worrall, 2020. "Optimal Sustainable Intergenerational Insurance," Edinburgh School of Economics Discussion Paper Series 300, Edinburgh School of Economics, University of Edinburgh.
    3. Facundo Piguillem & Alessandro Riboni, 2016. "Dynamic Bargaining over Redistribution in Legislatures," Working Papers 2016-15, Center for Research in Economics and Statistics.
    4. Uchida, Yuki & Ono, Tetsuo, 2021. "Political economy of taxation, debt ceilings, and growth," European Journal of Political Economy, Elsevier, vol. 68(C).
    5. Marco Bassetto, 2009. "The Research Agenda: Marco Bassetto on the Quantitative Evaluation of Fiscal Policy Rules," EconomicDynamics Newsletter, Review of Economic Dynamics, vol. 10(2), April.
    6. Tetsuo Ono, 2014. "Aging, Pensions, and Growth," Discussion Papers in Economics and Business 14-17-Rev.2, Osaka University, Graduate School of Economics, revised Dec 2016.
    7. Tetsuo Ono, 2013. "Public Education and Social Security: A Political Economy Approach," Discussion Papers in Economics and Business 13-06, Osaka University, Graduate School of Economics.
    8. Francesco Lancia & Alessia Russo, 2013. "A Dynamic Politico-Economic Model of Intergenerational contracts," Vienna Economics Papers vie1304, University of Vienna, Department of Economics.
    9. Blanchard, Emily & Willmann, Gerald, 2022. "Unequal gains, prolonged pain: A model of protectionist overshooting and escalation," Journal of International Economics, Elsevier, vol. 135(C).
    10. J. Ignacio Conde-Ruiz & Vincenzo Galasso & Paola Profeta, "undated". "The Evolution of Retirement," Working Papers 2005-03, FEDEA.
    11. Uchida, Yuki & Ono, Tetsuo, 2023. "Generational Distribution of Fiscal Burdens: A Positive Analysis," MPRA Paper 113607, University Library of Munich, Germany.
    12. Larry Karp & Armon Rezai, 2014. "The Political Economy Of Environmental Policy With Overlapping Generations," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 55(3), pages 711-733, August.
    13. Ryo Arawatari & Tetsuo Ono, 2008. "Aging, Inequality and Social Security," Discussion Papers in Economics and Business 08-19, Osaka University, Graduate School of Economics.
    14. Tetsuo Ono, 2014. "Economic Growth and the Politics of Intergenerational Redistribution," Discussion Papers in Economics and Business 14-17-Rev., Osaka University, Graduate School of Economics, revised Sep 2015.
    15. Arawatari, Ryo & Ono, Tetsuo, 2009. "A second chance at success: A political economy perspective," Journal of Economic Theory, Elsevier, vol. 144(3), pages 1249-1277, May.
    16. Andrés Erosa & Martin Gervais, 1998. "Optimal Taxation in Life-Cycle Economies," University of Western Ontario, Departmental Research Report Series 9812, University of Western Ontario, Department of Economics.
    17. Stefania Albanesi, "undated". "Inflation and Inequality," Working Papers 199, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
    18. Tetsuo Ono & Yuki Uchida, 2014. "Pensions, Education, and Growth: A Positive Analysis," Discussion Papers in Economics and Business 14-37-Rev., Osaka University, Graduate School of Economics, revised Aug 2015.
    19. Real Arai & Katsuyuki Naito & Tetsuo Ono, 2018. "Intergenerational policies, public debt, and economic growth: a politico-economic analysis," Discussion Papers in Economics and Business 18-12, Osaka University, Graduate School of Economics.
    20. Kono, Tatsuhito & Kitamura, Naoki & Yamasaki, Kiyoshi & Iwakami, Kazuki, 2016. "Quantitative Analysis of Dynamic Inconsistencies in Infrastructure Planning: An example of coastal levee improvement," MPRA Paper 107920, University Library of Munich, Germany.
    21. Marco Bassetto, 2008. "Political Economy of Taxation in an Overlapping-Generations Economy," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 11(1), pages 18-43, January.
    22. Holger Sieg & Daniele Coen-Pirani & Jeffrey Brinkman, 2015. "The Political Economy of Underfunded Municipal Pension Plans," 2015 Meeting Papers 345, Society for Economic Dynamics.
    23. Martin Gonzalez-Eiras & Dirk Niepelt, 2015. "Politico-Economic Equivalence," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 18(4), pages 843-862, October.
    24. Tetsuo Ono, 2014. "Intergenerational Politics, Government Debt and Economic Growth," Discussion Papers in Economics and Business 14-23, Osaka University, Graduate School of Economics.
    25. Tetsuo Ono, 2014. "Growth, Unemployment, and Fiscal Policy: A Political Economy Analysis," Discussion Papers in Economics and Business 14-30, Osaka University, Graduate School of Economics.
    26. Alexander Wolitzky & Florian Scheuer, 2014. "Capital Taxation under Political Constraints," 2014 Meeting Papers 191, Society for Economic Dynamics.
    27. Bishnu, Monisankar & Wang, Min, 2014. "The Political Intergenerational Welfare State," Staff General Research Papers Archive 37764, Iowa State University, Department of Economics.
    28. Sameera Awawda & Mohammad Abu-Zaineh & Bruno Ventelou, 2019. "Who Bears the Burden of Universal Health Coverage? An Assessment of Alternative Financing Policies Using an Overlapping generations General Equilibrium Model," Working Papers 1335, Economic Research Forum, revised 21 Aug 2019.
    29. Mahieu, Géraldine & Rottier, Stéphane, 2000. "Preferences over Capital Income versus Labor Income Taxation," LIDAM Discussion Papers IRES 2000021, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    30. Ryo Arawatari & Tetsuo Ono, 2016. "Age Gap in Voter Turnout and Size of Government Debt," Discussion Papers in Economics and Business 16-24, Osaka University, Graduate School of Economics.
    31. Zilibotti, Fabrizio & Hassler, John & Storesletten, Kjetil & Rodríguez Mora, José V, 2001. "The Survival of the Welfare State," CEPR Discussion Papers 2905, C.E.P.R. Discussion Papers.
    32. George Economides & Hyun Park & Apostolis Philippopoulos & Stelios Sakkas, 2015. "On the Composition of Public Spending and Taxes," CESifo Working Paper Series 5510, CESifo.
    33. Razin, Assaf & Sadka, Efraim & Suwankiri, Benjarong, 2015. "The Welfare State and Migration: A Dynamic Analysis of Political Coalitions," CEPR Discussion Papers 10429, C.E.P.R. Discussion Papers.
    34. Emily Blanchard & Gerald Willmann, 2007. "Political Stasis or Protectionist Rut? Policy Mechanisms for Trade Reform in a Democracy," CESifo Working Paper Series 2070, CESifo.
    35. Marco Bassetto & Zhen Huo & José-Víctor Ríos-Rull, 2018. "Organizational Equilibrium with Capital," NBER Working Papers 25376, National Bureau of Economic Research, Inc.
    36. Saito, Yuta, 2015. "Capital Tax as a Consequence of Bargaining," MPRA Paper 65338, University Library of Munich, Germany.
    37. Uchida, Yuki & Ono, Tetsuo, 2022. "Politics of Public Education and Pension Reform with Endogenous Fertility," MPRA Paper 114543, University Library of Munich, Germany.
    38. Blanchard, Emily & Willmann, Gerald, 2018. "Unequal Gains, Prolonged Pain: A Model of Protectionist Overshooting and Escalation," CEPR Discussion Papers 13160, C.E.P.R. Discussion Papers.
    39. Conde-Ruiz, José Ignacio & Galasso, Vincenzo, 1999. "Positive Arithmetic of the Welfare State," CEPR Discussion Papers 2202, C.E.P.R. Discussion Papers.
    40. Yuta Saito, 2019. "Political Representation and Legislative Bargaining over Redistribution," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 25(3), pages 251-262, August.
    41. J. Ignacio Conde-Ruiz & Vincenzo Galasso & Paola Profeta, 2006. "Early Retirement and Social Security: A Long Term Perspective," CSEF Working Papers 165, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
    42. George Economides & Apostolis Philippopoulos & Stylianos Sakkas, 2021. "Redistributive policies in general equilibrium," JRC Working Papers on Territorial Modelling and Analysis 2021-08, Joint Research Centre.
    43. Casamatta, G. & Batté, L., 2016. "The Political Economy of Population Aging," Handbook of the Economics of Population Aging, in: Piggott, John & Woodland, Alan (ed.), Handbook of the Economics of Population Aging, edition 1, volume 1, chapter 0, pages 381-444, Elsevier.
    44. Philipp Harms & Joachim Lutz, 2014. "Foreign vs. domestic public debt and the composition of government expenditure: A political-economy approach," Working Papers 1415, Gutenberg School of Management and Economics, Johannes Gutenberg-Universität Mainz, revised 20 Nov 2014.
    45. Blanchard, Emily & Willmann, Gerald, 2011. "Escaping a protectionist rut: Policy mechanisms for trade reform in a democracy," Journal of International Economics, Elsevier, vol. 85(1), pages 72-85, September.
    46. Saito, Yuta, 2016. "Dynamic Bargaining over Redistribution with Endogenous Distribution of Political Power," MPRA Paper 71130, University Library of Munich, Germany.

Articles

  1. Marco Bassetto & Leslie McGranahan, 2021. "Mobility, Population Growth, and Public Capital Spending in the United States," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 41, pages 255-277, July.
    See citations under working paper version above.
  2. Marco Bassetto & Thomas J. Sargent, 2020. "Shotgun Wedding: Fiscal and Monetary Policy," Annual Review of Economics, Annual Reviews, vol. 12(1), pages 659-690, August.
    See citations under working paper version above.
  3. Marco Bassetto & Carlo Galli, 2019. "Is Inflation Default? The Role of Information in Debt Crises," American Economic Review, American Economic Association, vol. 109(10), pages 3556-3584, October.
    See citations under working paper version above.
  4. Bassetto, Marco, 2019. "Forward guidance: Communication, commitment, or both?," Journal of Monetary Economics, Elsevier, vol. 108(C), pages 69-86.
    See citations under working paper version above.
  5. Bassetto, Marco & Cui, Wei, 2018. "The fiscal theory of the price level in a world of low interest rates," Journal of Economic Dynamics and Control, Elsevier, vol. 89(C), pages 5-22.
    See citations under working paper version above.
  6. Marco Bassetto & Marco Cagetti & Mariacristina De Nardi, 2015. "Credit Crunches and Credit Allocation in a Model of Entrepreneurship," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 18(1), pages 53-76, January.
    See citations under working paper version above.
  7. Bassetto, Marco & Phelan, Christopher, 2015. "Speculative runs on interest rate pegs," Journal of Monetary Economics, Elsevier, vol. 73(C), pages 99-114.
    See citations under working paper version above.
  8. Marco Bassetto, 2014. "Optimal fiscal policy with heterogeneous agents," Quantitative Economics, Econometric Society, vol. 5(3), pages 675-704, November.

    Cited by:

    1. Bhandari, Anmol & Evans, David & Golosov, Mikhail & Sargent, Thomas J., 2017. "Public debt in economies with heterogeneous agents," Journal of Monetary Economics, Elsevier, vol. 91(C), pages 39-51.
    2. Adrien Auclert, 2019. "Monetary Policy and the Redistribution Channel," American Economic Review, American Economic Association, vol. 109(6), pages 2333-2367, June.
    3. YiLi Chien & Yi Wen & HsinJung Wu, 2020. "Are Government Bonds Net Wealth or a Liability? ---Optimal Debt and Taxes in an OLG Model with Uninsurable Income Risk," Working Papers 2020-007, Federal Reserve Bank of St. Louis, revised 03 Jan 2021.
    4. YiLi Chien & Yi Wen, 2022. "Optimal Ramsey Taxation in Heterogeneous Agent Economies with Quasi-Linear Preferences," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 46, pages 124-160, October.
    5. Sarolta Laczo & Albert Marcet & Katharina Greulich, 2015. "Pareto-Improving Optimal Capital and Labor Taxes," 2015 Meeting Papers 951, Society for Economic Dynamics.
    6. Azzimonti, Marina & Yared, Pierre, 2017. "A note on optimal fiscal policy in an economy with private borrowing limits," Economics Letters, Elsevier, vol. 151(C), pages 62-65.
    7. Juan Carlos Conesa & Begona Dominguez, 2018. "Capital Taxes and Redistribution: The Role of Management Time and Tax Deductible Investment," Department of Economics Working Papers 18-10, Stony Brook University, Department of Economics.
    8. YiLi Chien & Yi Wen, 2019. "The Determination of Public Debt under both Aggregate and Idiosyncratic Uncertainty," Working Papers 2019-038, Federal Reserve Bank of St. Louis, revised 28 Apr 2022.
    9. François Le Grand & Xavier Ragot, 2017. "Optimal Fiscal Policy with Heterogeneous Agents and Aggregate Shocks," SciencePo Working papers Main hal-03458683, HAL.
    10. Ivens, Annika, 2018. "Optimal fiscal policy under private debt deleveraging," Journal of Economic Dynamics and Control, Elsevier, vol. 97(C), pages 1-18.
    11. Fabian Kindermann & Dirk Krueger, 2022. "High Marginal Tax Rates on the Top 1 Percent? Lessons from a Life-Cycle Model with Idiosyncratic Income Risk," American Economic Journal: Macroeconomics, American Economic Association, vol. 14(2), pages 319-366, April.
    12. Juan Carlos Conesa & Begoña Domínguez, 2019. "The timing of optimal capital income tax reforms: the role of intangible capital investment," SERIEs: Journal of the Spanish Economic Association, Springer;Spanish Economic Association, vol. 10(3), pages 419-438, November.
    13. Ohad Raveh, 2020. "Monetary Policy, Natural Resources, and Federal Redistribution," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 75(3), pages 585-613, March.
    14. Josef Schroth, 2016. "Financial Crisis Interventions," Staff Working Papers 16-29, Bank of Canada.
    15. Boris Chafwehé & François Courtoy, 2021. "Optimal Taxes and Transfers with Household Heterogeneity," LIDAM Discussion Papers IRES 2021009, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    16. Roberta, Cardani & Lorenzo, Menna & Patrizio, Tirelli, 2016. "Optimal Public Debt Consolidation with Distributional Conflicts," Working Papers 350, University of Milano-Bicocca, Department of Economics, revised 05 Oct 2016.
    17. Andrei S. Akhremenko & Alexander P. Petrov & Egor A. Yureskul, 2015. "Cyclically Balanced Growth Paths in a Model of Economic Growth with Endogenous Policy Switching," HSE Working papers WP BRP 109/EC/2015, National Research University Higher School of Economics.
    18. Juan Carlos Conesa & Begona Dominguez, 2019. "Online Appendix to "Capital Taxes and Redistribution: The Role of Management Time and Tax Deductible Investment"," Online Appendices 19-30, Review of Economic Dynamics.

  9. Marco Bassetto & Todd Messer & Christine Ostrowski, 2013. "Forecasting inflation and the Great Recession," Economic Perspectives, Federal Reserve Bank of Chicago, vol. 37(Q III), pages 79-106.

    Cited by:

    1. Dées, Stéphane & Güntner, Jochen, 2014. "Analysing and forecasting price dynamics across euro area countries and sectors: a panel VAR approach," Working Paper Series 1724, European Central Bank.

  10. Marco Bassetto & Todd Messer, 2013. "Fiscal Consequences of Paying Interest on Reserves," Fiscal Studies, Institute for Fiscal Studies, vol. 34, pages 413-436, December.
    See citations under working paper version above.
  11. Marco Bassetto & R. Andrew Butters, 2010. "What is the relationship between large deficits and inflation in industrialized countries?," Economic Perspectives, Federal Reserve Bank of Chicago, vol. 34(Q III), pages 83-100.

    Cited by:

    1. R. Anton Braun & Tomoyuki Nakajima, 2011. "Making the case for a low intertemporal elasticity of substitution," FRB Atlanta Working Paper 2011-13, Federal Reserve Bank of Atlanta.
    2. R. Anton Braun & Tomoyuki Nakajima, 2018. "Why Prices Don't Respond Sooner to a Prospective Sovereign Debt Crisis," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 29, pages 235-255, July.
    3. Gerhard Reitschuler & Rupert Sendlhofer, 2011. "Fiscal policy, trigger points and interest rates: Additional evidence from the U.S," Working Papers 2011-23, Faculty of Economics and Statistics, Universität Innsbruck.

  12. Marco Bassetto, 2008. "Political Economy of Taxation in an Overlapping-Generations Economy," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 11(1), pages 18-43, January.
    See citations under working paper version above.
  13. Marco Bassetto & Christopher Phelan, 2008. "Tax Riots," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 75(3), pages 649-669.
    See citations under working paper version above.
  14. Marco Bassetto & Vadym Lepetyuk, 2007. "Government investment and the European stability and growth pact," Economic Perspectives, Federal Reserve Bank of Chicago, vol. 31(Q III), pages 33-43.
    See citations under working paper version above.
  15. Marco Bassetto & Jess Benhabib, 2006. "Redistribution, Taxes and the Median Voter," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 9(2), pages 211-223, April.
    See citations under working paper version above.
  16. Marco Bassetto, 2006. "Politics and Efficiency of Separating Capital and Ordinary Government Budgets," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 121(4), pages 1167-1210.
    See citations under working paper version above.
  17. Marco Bassetto, 2006. "Fiscal policy and price stability: the case of Italy, 1992–98," Chicago Fed Letter, Federal Reserve Bank of Chicago, issue Dec.

    Cited by:

    1. Eric M. Leeper, 2010. "Monetary science, fiscal alchemy," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 361-434.
    2. Dennis Wesselbaum, 2022. "Cheap Talk in a New Keynesian Model," Journal of Quantitative Economics, Springer;The Indian Econometric Society (TIES), vol. 20(3), pages 661-691, September.

  18. Bassetto, Marco, 2005. "Equilibrium and government commitment," Journal of Economic Theory, Elsevier, vol. 124(1), pages 79-105, September.
    See citations under working paper version above.
  19. Bassetto, Marco & Kocherlakota, Narayana, 2004. "On the irrelevance of government debt when taxes are distortionary," Journal of Monetary Economics, Elsevier, vol. 51(2), pages 299-304, March.
    See citations under working paper version above.
  20. Marco Bassetto, 2004. "Negative Nominal Interest Rates," American Economic Review, American Economic Association, vol. 94(2), pages 104-108, May.

    Cited by:

    1. O. Loisel, 2015. "The Implementation of Stabilization Policy," Working papers 556, Banque de France.
    2. Makoto Saito, 2021. "Central Bank Cryptocurrencies in a Competitive Equilibrium Environment: Can Strong Money Demand Survive in the Digital Age?," Advances in Japanese Business and Economics, in: Strong Money Demand in Financing War and Peace, pages 161-189, Springer.
    3. Tobias Kranz, 2016. "Persistent Stochastic Shocks in a New Keynesian Model with Uncertainty," Research Papers in Economics 2016-05, University of Trier, Department of Economics.
    4. Correia, Isabel & Teles, Pedro & Adão, Bernardino, 2005. "Monetary Policy with Single Instrument Feedback Rules," CEPR Discussion Papers 4948, C.E.P.R. Discussion Papers.
    5. Damir Tokic, 2017. "Negative interest rates: Causes and consequences," Journal of Asset Management, Palgrave Macmillan, vol. 18(4), pages 243-254, July.
    6. Kranz Tobias, 2017. "Calibrating the Equilibrium Condition of a New Keynesian Model with Uncertainty," Review of Economics, De Gruyter, vol. 68(2), pages 117-151, August.
    7. Joshua R. Hendrickson, 2017. "Jürg Niehans and the Cashless Economy," The American Economist, Sage Publications, vol. 62(2), pages 149-164, October.

  21. Marco Bassetto, 2002. "A Game-Theoretic View of the Fiscal Theory of the Price Level," Econometrica, Econometric Society, vol. 70(6), pages 2167-2195, November.
    See citations under working paper version above.

Software components

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