scholarly journals Monetary-Fiscal Policy Interactions and the Price Level: Background and Beyond

2005 ◽  
Author(s):  
Eric Leeper ◽  
Tack Yun
Keyword(s):  
Fiscal Policy ◽  
Price Level ◽  
Policy Interactions

Paper Money

2013 ◽  
Vol 103 (2) ◽  
pp. 563-584 ◽  
Author(s):  
Christopher A Sims
Keyword(s):  
Monetary Policy ◽  
Fiscal Policy ◽  
Central Bank ◽  
Sovereign Debt ◽  
Price Level ◽  
Balance Sheets ◽  
Policy Interactions ◽  
Paper Money ◽  
Bank Balance Sheets

Drastic changes in central bank operations and monetary institutions in recent years have made previously standard approaches to explaining the determination of the price level obsolete. Recent expansions of central bank balance sheets and of the levels of richcountry sovereign debt, as well as the evolving political economy of the European Monetary Union, have made it clear that fiscal policy and monetary policy are intertwined. Our thinking and teaching about inflation, monetary policy, and fiscal policy should be based on models that recognize fiscal-monetary policy interactions. (JEL E31, E52, E58, E62, H63)

Monetary and Fiscal Policy Interactions

2016 ◽  
pp. 447-473 ◽  
Author(s):  
Asuman Oktayer ◽  
Nagihan Oktayer
Keyword(s):  
Fiscal Policy ◽  
Price Level ◽  
Empirical Test ◽  
Testing Procedure ◽  
Point Of View ◽  
Bounds Testing ◽  
Financial Policies ◽  
Policy Interactions ◽  
Monetary And Fiscal Policy

While the role of fiscal policy in price level determination was neglected by the conventional theory, a new point of view was adapted by the Fiscal Theory of the Price Level. In the context of the new theory, monetary and fiscal policy interactions were taken into account and the role of fiscal policy was underlined. This paper investigates the monetary and fiscal policy coordination in Turkey during the period 1989.1-2012.2 and sub-periods 1989.1-2001.1 and 2001.2-2012.2. In order to reveal if financial policies are monetary dominant or fiscal dominant in aforementioned periods, bounds testing procedure is applied by using quarterly data. While the empirical test results related to the entire period of 1989.1-2012.2 and sub-period of 1989.1-2001.1 indicate fiscal policy dominant regime, the findings regarding 2001.2-2012.2 imply monetary policy dominant regime in Turkey.

scholarly journals Monetary–fiscal policy interactions and fiscal stimulus

2011 ◽  
Vol 55 (2) ◽  
pp. 211-227 ◽  
Author(s):  
Troy Davig ◽  
Eric M. Leeper
Keyword(s):  
Fiscal Policy ◽  
Fiscal Stimulus ◽  
Policy Interactions
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