Self-fulfilling deflations

DOI10.1016/J.JEDC.2016.08.004MaRDI QIDQ1656437zbMATH OpenOpenAlexFDO

Authors Roberto Piazza

Publication date 10 August 2018

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

Full work available at URL http://www.bancaditalia.it/pubblicazioni/temi-discussione/2016/2016-1080/en_tema_1080.pdf

zbMATH Keywords

deanchoringdeflationinflation targetliquidity trapsunspot

Mathematics Subject Classification ID

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

Recommendations

• Liquidity traps and expectation dynamics: fiscal stimulus or fiscal austerity?
• Expectations and policies in deflationary recessions
• Fiscal Policy in an Expectations-Driven Liquidity Trap
• Escapist policy rules
• Managing unanchored, heterogeneous expectations and liquidity traps

Cites work

• Business Cycle Accounting
• Chaotic dynamics in a cash-in-advance economy
• Fiscal Policy in an Expectations-Driven Liquidity Trap
• Long-Term Debt and Optimal Policy in the Fiscal Theory of the Price Level
• The perils of Taylor rules

Cited in

(8)

• A deflationary theory of reference
• Lack of confidence, the zero lower bound, and the virtue of fiscal rules
• The failure of stabilization policy: balanced-budget fiscal rules in the presence of incompressible public expenditures
• Inflation without Selfreproduction
• Expectations and policies in deflationary recessions
• Bubbles and Self-Enforcing Debt
• Deflationary recessions in a general equilibrium framework
• Controlling chaos in New Keynesian macroeconomics

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