Indice de cohérence du policy-mix: une proposition
Policy-mix coherence index: a proposal
Gammadigbe Vigninou
MPRA Paper from University Library of Munich, Germany
Abstract:
From the policy mix theory to the related empirical works, quantifying the degree of coordination of monetary and fiscal policies seems to be missing. In this paper, we propose an index (ICPM) which measures the coherent nature of the policy mix rather than it restrictive or expansive character. It is defined as the average number of periods that monetary and fiscal policies were in phase in a Keynesian perspective. After calculating the index for thirty (30) countries over the period 1990 to 2013, we explore the relation between the coherence of the policy mix and the stabilization of the activity. The econometric analysis provides empirical evidence that good coordination of monetary and fiscal policy reduces the volatility of output.
Keywords: Coordination; Monetary policy; Fiscal policy (search for similar items in EconPapers)
JEL-codes: C21 C43 E61 (search for similar items in EconPapers)
Date: 2015-03-31
References: View references in EconPapers View complete reference list from CitEc
Citations:
Downloads: (external link)
https://mpra.ub.uni-muenchen.de/63286/1/MPRA_paper_63286.pdf original version (application/pdf)
Related works:
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:pra:mprapa:63286
Access Statistics for this paper
More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Joachim Winter ().