東華大學圖書館 |

語系: 繁體中文

說明(常見問題)

回圖書館首頁

手機版館藏查詢

登入

回首頁

切換: 標籤 | MARC模式 | ISBD

Econometric modeling and evaluation ...

Tan, Fei.

FindBook

Google Book

Amazon

博客來

Econometric modeling and evaluation of fiscal-monetary policy interactions.

紀錄類型:	書目-電子資源 : Monograph/item
正題名/作者:	Econometric modeling and evaluation of fiscal-monetary policy interactions./
作者:	Tan, Fei.
面頁冊數:	161 p.
附註:	Source: Dissertation Abstracts International, Volume: 76-12(E), Section: A.
Contained By:	Dissertation Abstracts International76-12A(E).
標題:	Commerce-Business. -
電子資源:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3714510
ISBN:	9781321918557

Econometric modeling and evaluation of fiscal-monetary policy interactions.
Tan, Fei.

Econometric modeling and evaluation of fiscal-monetary policy interactions. - 161 p.

Source: Dissertation Abstracts International, Volume: 76-12(E), Section: A.

Thesis (Ph.D.)--Indiana University, 2015.

How do fiscal and monetary policies interact to determine inflation? The conventional view rests on the Taylor principle, that central banks can control inflation by raising nominal interest rate more than one-for-one with inflation. This principle embeds an implicit assumption that the government always adjusts taxes or spending to assure fiscal solvency. But when the required fiscal adjustments are not assured, as may occur during periods of fiscal stress, monetary policy may no longer be able to determine inflation. Under this alternative view, policy roles are reversed, with fiscal policy determining the price level and monetary policy acting to stabilize debt. Because these two policy regimes imply starkly different policy advice, identifying the prevailing regime is a prerequisite to understanding the macro economy and to making good policy choices.

ISBN: 9781321918557Subjects--Topical Terms:

3168423
Commerce-Business.

Econometric modeling and evaluation of fiscal-monetary policy interactions.
LDR:03354nmm a2200313 4500 001 2067887
005 20160418082948.5
008 170521s2015 ||||||||||||||||| ||eng d
020 $a 9781321918557
035 $a (MiAaPQ)AAI3714510
035 $a AAI3714510
040 $a MiAaPQ $c MiAaPQ
100 1 $a Tan, Fei. $3 3182756
245 1 0 $a Econometric modeling and evaluation of fiscal-monetary policy interactions.
300 $a 161 p.
500 $a Source: Dissertation Abstracts International, Volume: 76-12(E), Section: A.
500 $a Advisers: Eric M. Leeper; Todd B. Walker.
502 $a Thesis (Ph.D.)--Indiana University, 2015.
520 $a How do fiscal and monetary policies interact to determine inflation? The conventional view rests on the Taylor principle, that central banks can control inflation by raising nominal interest rate more than one-for-one with inflation. This principle embeds an implicit assumption that the government always adjusts taxes or spending to assure fiscal solvency. But when the required fiscal adjustments are not assured, as may occur during periods of fiscal stress, monetary policy may no longer be able to determine inflation. Under this alternative view, policy roles are reversed, with fiscal policy determining the price level and monetary policy acting to stabilize debt. Because these two policy regimes imply starkly different policy advice, identifying the prevailing regime is a prerequisite to understanding the macro economy and to making good policy choices.
520 $a This dissertation employs econometric modeling and evaluation techniques to examine the empirical implications of the dynamic interactions between post-war U.S. fiscal and monetary policies. Chapter One compares two econometric interpretations of a dynamic macro model designed to study U.S. policy interactions. Two main findings emerge. First, the data overwhelmingly support the conventional view of inflation determination under the prevailing, "strong" econometric interpretation that takes literally all of the model's implications for the data. But this result is susceptible to any potential model misspecification. Second, according to the alternative, "minimal" econometric interpretation that is immune to the difficulties with the strong interpretation, the two views of inflation determination can explain the data about equally well. These findings imply that the apparent statistical support in favor of the conventional view over the alternative in the literature stems largely from the strong interpretation rather than from compelling empirical evidence. Therefore, a prudent policymaker should broaden her perspective beyond any single view on the inflation process.
520 $a Chapter Two, joint with Todd B. Walker, develops an analytic function approach to solving generalized multivariate linear rational expectations models. This solution method is shown to provide important insights into equilibrium dynamics of well-known models. Chapter Three further demonstrates the usefulness of this method via a conventional new Keynesian model.
590 $a School code: 0093.
650 4 $a Commerce-Business. $3 3168423
650 4 $a Economic theory. $3 1556984
650 4 $a Economics. $3 517137
690 $a 0505
690 $a 0511
690 $a 0501
710 2 $a Indiana University. $b Economics. $3 1026771
773 0 $t Dissertation Abstracts International $g 76-12A(E).
790 $a 0093
791 $a Ph.D.
792 $a 2015
793 $a English
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3714510