Interaction between fiscal and monetary policy in a dynamic nonlinear model

dc.contributorUniversidade Estadual Paulista (Unesp)
dc.contributorBoston Univ
dc.contributorFed Inst Educ Sci &Technol
dc.contributorUniversidade Estadual de Campinas (UNICAMP)
dc.contributorZagreb Sch Econ &Management
dc.contributorUniv Rijeka
dc.contributorUniv Ljubljana
dc.date.accessioned2015-10-21T20:46:19Z
dc.date.available2015-10-21T20:46:19Z
dc.date.created2015-10-21T20:46:19Z
dc.date.issued2015-03-23
dc.identifierPlos One. San Francisco: Public Library Science, v. 10, n. 3, p. 1-21, 2015.
dc.identifier1932-6203
dc.identifierhttp://hdl.handle.net/11449/129290
dc.identifier10.1371/journal.pone.0118917
dc.identifierWOS:000351987300022
dc.identifierWOS000351987300022.pdf
dc.identifier9960511866241705
dc.description.abstractThe objective of this study is to verify the dynamics between fiscal policy, measured by public debt, and monetary policy, measured by a reaction function of a central bank. Changes in monetary policies due to deviations from their targets always generate fiscal impacts. We examine two policy reaction functions: the first related to inflation targets and the second related to economic growth targets. We find that the condition for stable equilibrium is more restrictive in the first case than in the second. We then apply our simulation model to Brazil and United Kingdom and find that the equilibrium is unstable in the Brazilian case but stable in the UK case.
dc.languageeng
dc.publisherPublic Library Science
dc.relationPlos One
dc.relation2.766
dc.relation1,164
dc.rightsAcesso aberto
dc.sourceWeb of Science
dc.titleInteraction between fiscal and monetary policy in a dynamic nonlinear model
dc.typeArtículos de revistas


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