Monetary and Fiscal Policy in Times of Crises: A New Keynesian Perspective in Continuous Time

Monetary and Fiscal Policy in Times of Crises: A New Keynesian Perspective in Continuous Time

To analyse the interdependence between monetary and fiscal policy during a financial crisis, we develop an open-economy DSGE model with monetary and fiscal policy as well as financial markets in a continuous-time framework based on stochastic differential equations. Monetary policy is modelled using...

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Veröffentlicht in:MAGKS - Joint Discussion Paper Series in Economics (Band 55-2014b)
Autoren: Hayo, Bernd, Niehof, Britta
Format: Artikel
Sprache:Englisch
Veröffentlicht: Philipps-Universität Marburg 2014
Schlagworte:
Wirtschaft
New Keynesian Models
Fiscal Policy
Financial Crisis
Dynamic Stochastic General Equilibrium Models, Continuous Time Model
Monetary Policy
Economics
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