Now showing items 1-5 of 5

  • Discretionary Policy in a Monetary Union with Sovereign Debt 

    Leith, Campbell; Wren-Lewis, Simon (University of GlasgowUniversity of Oxford, 2010)
    This paper examines the interactions between multiple national fiscal policy- makers and a single monetary policy maker in response to shocks to government debt in some or all of the countries of a monetary union. We ...
  • Electoral Uncertainty and the Deficit Bias in a New Keynesian Economy 

    Leith, Campbell; Wren-Lewis, Simon (University of GlasgowUniversity of Oxford, 2009)
    Recent attempts to incorporate optimal fiscal policy into New Keynesian models subject to nominal inertia, have tended to assume that policy makers are benevolent and have access to a commitment technology. A separate ...
  • Fiscal Sustainability in a New Keynesian Model 

    Leith, Campbell; Wren-Lewis, Simon (University of Glasgow, 2012)
    Recent work on optimal monetary and fiscal policy in New Keynesian models suggests that it is optimal to allow steady-state debt to follow a random walk. Leith and Wren-Lewis (2012) consider the nature of the timeinconsistency ...
  • Fiscal Sustainability in a New Keynesian Model 

    Leith, Campbell; Wren-Lewis, Simon (University of GlasgowUniversity of Oxford, 2012)
    Recent work on optimal monetary and fiscal policy in New Keynesian models suggests that it is optimal to allow steady-state debt to follow a random walk. Leith and Wren-Lewis (2012) consider the nature of the timeinconsistency ...
  • When is Monetary Policy All we Need? 

    Leith, Campbell; Wren-Lewis, Simon; Eser, Fabian (University of Glasgow, 2009)
    We consider optimal monetary and scal policies in a New Keynesian model of a small open economy with sticky prices and wages. In this benchmark setting monetary policy is all we need - analytical results demonstrate that ...

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