Optimal Oscal and monetary policy action in a closed economy

Apostolis Philippopoulos, Petros Varthalitis (pvarthalitis@aueb.gr) and Vanghelis Vassilatos
Additional contact information
Apostolis Philippopoulos: Athens University of Economics and Business
Vanghelis Vassilatos: Athens University of Economics and Business

No 201402, Working Papers from Athens University Of Economics and Business, Department of Economics

Abstract: We study optimized monetary and Oscal feedback policy rules. The setup is a New Keynesian DSGE model of a closed economy which is solved numerically using common parameter values and Oscal data from the euro area. Our aim is to welfare rank alternative tax-spend- ing policy instruments used for shock stabilization and/or debt consolidation when, at the same time, the monetary authorities can follow a Taylor rule for the nominal interest rate.

Keywords: Feedback policy rules; New Keynesian. (search for similar items in EconPapers)
JEL-codes: E6 F3 H6 (search for similar items in EconPapers)
Pages: 38 pages
Date: 2014-02
References: Add references at CitEc
Citations:

Forthcoming

Downloads: (external link)
https://www.dept.aueb.gr/sites/default/files/econ/dokimia/AllDP022014b.pdf Released version, 2014 (application/pdf)

Related works:
Journal Article: Optimal fiscal and monetary policy action in a closed economy (2015)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:aeb:wpaper:201402:y:2014

Access Statistics for this paper

More papers in Working Papers from Athens University Of Economics and Business, Department of Economics Contact information at EDIRC.
Bibliographic data for series maintained by Katerina Michailidou (km@aueb.gr).