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Bank of Canada RSS Feedsen2024-03-28T21:43:12+00:00The Welfare Implications of Fiscal Dominance
https://www.bankofcanada.ca/2008/09/working-paper-2008-28/
This paper studies the interdependence between fiscal and monetary policy in a DSGE model with sticky prices and non-zero trend inflation. We characterize the fiscal and monetary policies by a rule whereby a given fraction k of the government debt must be backed by the discounted value of current and future primary surpluses.2008-09-02T11:08:46+00:00enThe Welfare Implications of Fiscal Dominance2008-09-02Economic modelsFiscal policyInflation: costs and benefitsMonetary policy frameworkWorking Paper 2008-28 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp08-28.pdfThe Welfare Implications of Fiscal DominanceCarlos De ResendeNooman RebeiSeptember 2008EE3E31E4E42E5E50E6E63