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Monetary–Fiscal Policy Interactions under Implementable Monetary Policy Rules

William A. Branch, Troy Davig and Bruce McGough ()

Journal of Money, Credit and Banking, 2008, vol. 40, issue 5, 1095-1102

Abstract: This paper examines the implications of forward‐ and backward‐looking monetary policy rules in an environment with monetary–fiscal interactions. We find that the unique stationary rational expectations equilibrium (REE) is always non‐Ricardian under simple implementable monetary policy rules.

Date: 2008
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https://doi.org/10.1111/j.1538-4616.2008.00149.x

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Persistent link: https://EconPapers.repec.org/RePEc:wly:jmoncb:v:40:y:2008:i:5:p:1095-1102

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