How Long to Read Counter-cyclical Fiscal Rules and the Zero Lower Bound

How Long Does it Take to Read Counter-cyclical Fiscal Rules and the Zero Lower Bound?

It takes the average reader to read Counter-cyclical Fiscal Rules and the Zero Lower Bound by Sebastian Hauptmeier

Assuming a reading speed of 250 words per minute. Learn more

Description

We analyse the effectiveness of optimal simple and implementable monetary and fiscal policy rules in stabilising economic activity, inflation and government debt in face of an occasionally binding lower bound on the nominal interest rate in a New Keynesian model. We show that, within the traditional assignment of active monetary policy and passive fiscal policy, the optimal fiscal policy rule features a strong counter-cyclical response to the deviation of inflation from the central bank's target - providing significant macroeconomic stabilisation especially at the lower bound - while also featuring a strong response to government debt. Our quantitative results show that the optimal counter-cyclical fiscal feedback to inflation significantly improves welfare and reduces the lower-bound frequency. In addition, the optimal simple monetary and fiscal rules almost completely resolve the deflationary bias associated with the lower bound.

How long is Counter-cyclical Fiscal Rules and the Zero Lower Bound?

Counter-cyclical Fiscal Rules and the Zero Lower Bound by Sebastian Hauptmeier is 0 pages long, and a total of 0 words.

This makes it 0% the length of the average book. It also has 0% more words than the average book.

How Long Does it Take to Read Counter-cyclical Fiscal Rules and the Zero Lower Bound Aloud?

The average oral reading speed is 183 words per minute. This means it takes to read Counter-cyclical Fiscal Rules and the Zero Lower Bound aloud.

What Reading Level is Counter-cyclical Fiscal Rules and the Zero Lower Bound?

Counter-cyclical Fiscal Rules and the Zero Lower Bound is suitable for students ages 2 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

When deciding what to show young students always use your best judgement and consult a professional.

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