Monetary and fiscal policy under deep habits

DOI10.1016/J.JEDC.2014.11.005MaRDI QIDQ1624032zbMATH OpenOpenAlexFDO

Authors Campbell Leith, Ioana Moldovan, Raffaele Rossi

Publication date 15 November 2018

Published in Journal of Economic Dynamics and Control (Search for Journal in Brave)

Copyright license Creative Commons Attribution 4.0 International

Full work available at URL https://doi.org/10.1016/j.jedc.2014.11.005

zbMATH Keywords

deep habitsfiscal policymonetary policyNew Keynesian

Mathematics Subject Classification ID

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

Recommendations

• A fiscal stimulus with deep habits and optimal monetary policy
• Deep Habits
• HABIT FORMATION AND GOVERNMENT SPENDING IN A SMALL OPEN ECONOMY
• The Friedman rule under habit formation
• Habit formation and indeterminacy in overlapping generations models

Cites work

• An Empirical Characterization of the Dynamic Effects of Changes in Government Spending and Taxes on Output
• Convergence Properties of the Nelder--Mead Simplex Method in Low Dimensions
• Deep Habits
• Interest rate policy, debt, and indeterminacy with distortionary taxation
• Linear-quadratic approximation of optimal policy problems
• Linear-quadratic approximation, external habit and targeting rules
• Monetary and fiscal policy interactions in a New Keynesian model with capital accumulation and non-Ricardian consumers
• Optimal fiscal and monetary policy under sticky prices.
• Solving dynamic general equilibrium models using a second-order approximation to the policy function

Cited in

(5)

• Monetary and fiscal policies under two alternative types of rules
• A fiscal stimulus with deep habits and optimal monetary policy
• Deep Habits
• HABIT FORMATION AND GOVERNMENT SPENDING IN A SMALL OPEN ECONOMY
• Government spending and monopolistic competition with heterogeneous firm productivity

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• fminsearch

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