Monetary policy with declining deficits theory and application to recent argentine monetary policy /

The authors study the nature of the optimal monetary policy in a regime of fiscal dominance when the monetary authority—which can print money or issue interest-earning debt—is required to finance an exogenous sequence of transfers to the Treasury. They show that the degree of commitment on the part...

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Bibliographic Details
Main Author: Manuelli, Rodolfo
Other Authors: Vizcaino, Juan I.
Format: Article
Language:English
Subjects:
Online Access:https://research.stlouisfed.org/publications/review/2017/10/04/monetary-policy-with-declining-deficits-theory-and-an-application-to-recent-argentine-monetary-policy/