Monetary and fiscal policy in a liquidity trap with inflation persistence

DOI10.1016/J.JEDC.2018.12.006MaRDI QIDQ1734527zbMATH OpenOpenAlexWikidataFDO

Authors Jean-Baptiste Michau

Publication date 27 March 2019

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

Full work available at URL https://doi.org/10.1016/j.jedc.2018.12.006

zbMATH Keywords

commitmentinflation persistenceliquidity trapmonetary and fiscal policy

Mathematics Subject Classification ID

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

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Cites work

• Optimal fiscal and monetary policy with occasionally binding zero bound constraints
• Secular stagnation: theory and remedies
• The General Theory of Employment, Interest, and Money
• The optimal inflation rate in New Keynesian models: should central banks raise their inflation targets in light of the zero lower bound?

Cited in

(19)

• Monetary policy and liquid government debt
• Determinate liquidity traps
• Protectionism in a liquidity trap
• Fiscal policy and liquidity traps with heterogeneous agents
• A fiscal stimulus with deep habits and optimal monetary policy
• Dealing with a liquidity trap when government debt matters: optimal time-consistent monetary and fiscal policy
• Public debt, discretionary policy, and inflation persistence
• Liquidity traps and expectation dynamics: fiscal stimulus or fiscal austerity?
• Money-financed fiscal stimulus: the effects of implementation lag
• Financial openness, nontradable inflation and optimal monetary policy
• Debt-deflation versus the liquidity trap: the dilemma of nonconventional monetary policy
• Fiscal Policy in an Expectations-Driven Liquidity Trap
• LIQUIDITY, MONETARY POLICY, AND UNEMPLOYMENT: A NEW MONETARIST APPROACH
• Monetary policy inertia and the paradox of flexibility
• A Fiscal Theory of Persistent Inflation
• When is government debt accumulation optimal in a liquidity trap?
• Pareto-improving tax reforms and the earned income tax credit
• Fiscal policy under secular stagnation: an optimal pump-priming strategy
• Liquidity trap and optimal monetary policy: evaluations for U. S. monetary policy from 2020 to 2023

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