Optimal Monetary and Fiscal Policy with Limited Asset Market Participation
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- Michael Kumhof & Huixin Bi, 2009. "Jointly Optimal Monetary and Fiscal Policy Rules under Borrowing Constraints," IMF Working Papers 09/286, International Monetary Fund.
- Bi, Huixin & Kumhof, Michael, 2011. "Jointly optimal monetary and fiscal policy rules under liquidity constraints," Journal of Macroeconomics, Elsevier, vol. 33(3), pages 373-389, September.
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KeywordsEconomic models; Financial assets; Capital markets; Stabilization measures; Fiscal policy; Monetary policy; Limited asset market participation; rule-of-thumb consumers; government expenditure; optimal monetary policy; optimal fiscal policy.; expenditure; government spending; public spending; Rule Of Thumb Consumers; Optimal Fiscal Policy;
NEP fieldsThis paper has been announced in the following NEP Reports:
- NEP-ALL-2009-10-10 (All new papers)
- NEP-CBA-2009-10-10 (Central Banking)
- NEP-MAC-2009-10-10 (Macroeconomics)
- NEP-MON-2009-10-10 (Monetary Economics)
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