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Monetary And Fiscal Policies In The Euro-area: Macro Modeling, Learning And Empirics - Couverture rigide

Semmler, W.; Greiner, A.; Zhang, W.

 
9780444518903: Monetary And Fiscal Policies In The Euro-area: Macro Modeling, Learning And Empirics
Couverture rigide
ISBN 10 : 0444518908 ISBN 13 : 9780444518903
Editeur : Elsevier Science Ltd, 2005

Synopsis

The emergence of a new macro economy in Euro-Asia is a great challenge for academics and policy makers alike. Our book focuses on this macro economy and the monetary and fiscal policy responses. As the new environment has evolved over time, private behaviour as well as policy responses have changed. Policy makers as well as private agents had to learn the new environment. In our book we thus put heavy emphasis on uncertainty and learning. The first part of the book explores monetary policies allowing for uncertainty and time-varying behaviour of economic agents in markets, in particular in the labour market and the monetary policy responses to it. We study both forward and backward looking behaviour, learning and robust control as well as the role of financial markets for policies. The second part explores fiscal policy in the Euro-area, its sustainability, its effects on economic growth and the attempts of the Euro-area to stabilize the public debt. The third part explores monetary and fiscal policy interactions in the Euro-area countries. Since there are many national fiscal authorities but only one monetary authority this is a particularly challenging problem of Euro-area countries. Methodologically, we use modern methods such as advanced econometric methodology, learning models that allows to study time varying behaviour, and dynamic macro modelling and dynamic optimization.

Les informations fournies dans la section « Synopsis » peuvent faire référence à une autre édition de ce titre.

Présentation de l'éditeur

The emergence of a new macro economy in Euro-Asia is a great challenge for academics and policy makers alike. Our book focuses on this macro economy and the monetary and fiscal policy responses. As the new environment has evolved over time, private behaviour as well as policy responses have changed. Policy makers as well as private agents had to learn the new environment. In our book we thus put heavy emphasis on uncertainty and learning. The first part of the book explores monetary policies allowing for uncertainty and time-varying behaviour of economic agents in markets, in particular in the labour market and the monetary policy responses to it. We study both forward and backward looking behaviour, learning and robust control as well as the role of financial markets for policies. The second part explores fiscal policy in the Euro-area, its sustainability, its effects on economic growth and the attempts of the Euro-area to stabilize the public debt. The third part explores monetary and fiscal policy interactions in the Euro-area countries. Since there are many national fiscal authorities but only one monetary authority this is a particularly challenging problem of Euro-area countries. Methodologically, we use modern methods such as advanced econometric methodology, learning models that allows to study time varying behaviour, and dynamic macro modelling and dynamic optimization.

Les informations fournies dans la section « A propos du livre » peuvent faire référence à une autre édition de ce titre.

Éditeur
Elsevier Science Ltd
Date d'édition
2005
Langue
anglais
ISBN 10 
0444518908
ISBN 13 
9780444518903
Reliure
Relié
Nombre de pages
372
Coordonnées du fabricant
non disponible
Personne responsable
Barbara Criscuolo
b.criscuolo@lswr.it

Via Spadolini, 7
Milano
20141
Italie