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Fiscal policy under loose commitment

[PDF] from ucsd.edu
Full text - MIT Libraries
D Debortoli… - Journal of Economic Theory, 2010 - Elsevier
Due to time-inconsistency or political turnover, policymakers' promises are not always
fulfilled. We analyze an optimal fiscal policy problem where the plans made by the
benevolent government are periodically revised. In this loose commitment setting, the ...
Cited by 26 - Related articles - All 9 versions

[BOOK] Political disagreement, lack of commitment and the level of debt

[PDF] from federalreserve.gov
D Debortoli… - 2008 - papers.ssrn.com
Abstract: We analyze how public debt evolves when successive policymakers have different
policy goals and cannot make credible commitments about their future policies. We consider
several cases to be able to disentangle and quantify the respective effects of imperfect ...
Cited by 20 - Related articles - Get it from MIT Libraries - Library Search - All 22 versions

[BOOK] Loose commitment

[PDF] from federalreserve.gov
D Debortoli, R Nunes… - 2007 - papers.ssrn.com
Abstract: Due to time-inconsistency or policymakers' turnover, economic promises are not
always fulfilled and plans are revised periodically. This fact is not accounted for in the
commitment or the discretion approach. We consider two settings where the planner ...
Cited by 13 - Related articles - Get it from MIT Libraries - Library Search - All 24 versions

[BOOK] The macroeconomic effect of external pressures on monetary policy

[PDF] from federalreserve.gov
D Debortoli… - 2008 - papers.ssrn.com
Abstract: Central banks, whether independent or not, may occasionally be subject to
external pressures to change policy objectives. We analyze the optimal response of central
banks to such pressures and the resulting macroeconomic consequences. We consider ...
Cited by 3 - Related articles - Get it from MIT Libraries - Library Search - All 12 versions

[PDF] Lack of Commitment and the Level of Debt

[PDF] from federalreserve.gov
D Debortoli… - 2011 - federalreserve.gov
Abstract The tendency of countries to accumulate public debt has been rationalized in
models of political disagreement and lack of commitment. We analyze in a benchmark
model how the evolution of public debt is affected by lack of commitment per se. While ...
Cited by 1 - Related articles - View as HTML - All 7 versions

Loose commitment in medium-scale macroeconomic models: Theory and an application

[PDF] from federalreserve.gov
D Debortoli, J Maih… - 2011 - papers.ssrn.com
Abstract: This paper proposes a method and a toolkit for solving optimal policy with imperfect
commitment in linear quadratic models. As opposed to the existing literature, our method
can be employed in medium-and large-scale models typically used in monetary policy. ...
Cited by 1 - Related articles - All 18 versions

[PDF] Monetary Policy with Alternating Regimes

[PDF] from upf.edu
D Debortoli… - econ.upf.edu
Abstract We analyze optimal monetary policy choices when the central bank's policy
objectives may change over time. In the first setting, the current policymaker may disagree
on the policy objectives of its successor. Each policymaker can credibly commit over his ...
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[PDF] Heterogeneous Pricing Behavior and Monetary Policy

[PDF] from ucsd.edu
D Debortoli - dss.ucsd.edu
Abstract This paper wants to study the determinants of the differences in pricing behaviour
across sectors and analyze its consequences for the effects of monetary policy shocks. We
build a two-sectors model allowing for several sources of heterogeneity among sectors, ...
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The International Finance Discussion Papers logo links to the International Finance Discussion Papers home page Monetary Regime Switches and Unstable …

D Debortoli… - federalreserve.gov
Abstract: Monetary policy objectives and targets are not necessarily stable over time. The
regime switching literature has typically analyzed and interpreted changes in policymakers'
behavior through simple interest rate rules. This paper analyzes policy regime switches ...
Cached - All 2 versions

[PDF] Monetary regime switches and unstable objectives

[PDF] from federalreserve.gov
D Debortoli… - International Finance Discussion …, 2011 - federalreserve.gov
Abstract Monetary policy objectives and targets are not necessarily stable over time. The
regime switching literature has typically analyzed and interpreted changes in policymakers'
behavior through simple interest rate rules. This paper analyzes policy regime switches ...
Related articles - View as HTML - All 6 versions

[PDF] Labour and profit taxation and the supply of public capital

[PDF] from uc3m.es
D Debortoli… - 2011 - eco.uc3m.es
Abstract Over the past 40 years we have observed in developed countries a decline in the
corporate tax rate and public investment offset by an increase in the labour income tax and
government consumption. We consider a neoclassical growth model with a public sector, ...
Related articles - View as HTML - All 3 versions

The International Finance Discussion Papers logo links to the International Finance Discussion Papers home page The Macroeconomic Effect of External Pressures …

D Debortoli… - federalreserve.gov
Abstract: Central banks, whether independent or not, may occasionally be subject to
external pressures to change policy objectives. We analyze the optimal response of central
banks to such pressures and the resulting macroeconomic consequences. We consider ...
Cached - All 2 versions

[PDF] Econ 211: Advanced Macroeconomics

[PDF] from ucsd.edu
D Debortoli… - dss.ucsd.edu
The object of this course is to introduce students to a variety of tools used in advanced
dynamic macroeconomic models. The focus will be on the theoretical aspects of these
models, rather than on the specific economic implications or on the numerical solution ...
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[PDF] The macroeconomic effects of unstable monetary policy objectives

[PDF] from 149.132.120.83
D Debortoli… - 149.132.120.83
Abstract Monetary policy objectives and targets are not necessarily stable over time. We
analyze the optimal response of central banks to such objective instability and the resulting
macroeconomic consequences. The possibility to adopt more “liberal” objectives in the ...
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[PDF] Econ 210C: Macroeconomic Theory

[PDF] from ucsd.edu
G Rondina… - econ.ucsd.edu
This course is divided into two parts. Both parts count equally (50%) towards the final grade.
The grade will be determined by problems sets (10%) and by two in-class exams (90%). The
exam on the first part will be on Wed. Apr 28th, while the exam on the second part will be ...
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[PDF] Optimal labour and profit taxation and the supply of public capital

[PDF] from eea-esem.com
D Debortoli… - 2010 - eea-esem.com
Abstract Over the past 30 years we have observed in developed countries a decline in the
corporate tax rate and public investment offset by an increase in the labour income tax and
government consumption. We consider a framework where the government chooses ...
Related articles - View as HTML - All 5 versions

The International Finance Discussion Papers logo links to the International Finance Discussion Papers home page Lack of Commitment and the Level of Debt

D Debortoli… - federalreserve.gov
Abstract: The tendency of countries to accumulate public debt has been rationalized in
models of political disagreement and lack of commitment. We analyze in a benchmark
model how the evolution of public debt is affected by lack of commitment per se. While ...
Cached - All 4 versions

[HTML] Fiscal and Monetary Policy under imperfect commitment

[HTML] from tesisenxarxa.net
D Debortoli - 2008 - tesisenxarxa.net
L'objectiu d'aquesta tesi és analitzar com s' han de concebre les polítiques fiscals i
monetàries en un context en què els polítics tenen problemes de credibilitat. Es
desenvolupen metodologies i aplicacions per mostrar com diferents graus de credibilitat ...
Related articles - Cached - All 8 versions

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