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Title:Time-consistent institutional design Author(s):BRENDON, Charles
; ELLISON, MartinDate:2014Type:Working PaperSeries/Number:EUI MWP; 2014/21Abstract:We propose a new normative approach to designing institutional commitments in environments that are subject to a time inconsistency problem, à la Kydland and Prescott (1977). This approach captures the idea that institutions ...
; ELLISON, MartinDate:2014Type:Working PaperSeries/Number:EUI MWP; 2014/21Abstract:We propose a new normative approach to designing institutional commitments in environments that are subject to a time inconsistency problem, à la Kydland and Prescott (1977). This approach captures the idea that institutions ...
Title:The combination of monetary and fiscal policy shocks : a TVP-FAVAR approach Author(s):MOLTENI, Francesco 
; PAPPA, EviDate:2017Type:Working PaperSeries/Number:EUI MWP; 2017/13Abstract:This paper analyzes jointly the effects of monetary and fiscal policy shocks in the US economy using a factor augmented vector autoregressive model with drifting coefficients and stochastic volatility. The time varying ...
; PAPPA, EviDate:2017Type:Working PaperSeries/Number:EUI MWP; 2017/13Abstract:This paper analyzes jointly the effects of monetary and fiscal policy shocks in the US economy using a factor augmented vector autoregressive model with drifting coefficients and stochastic volatility. The time varying ...
Title:Fiscal policy under constraints : fiscal capacity and the (in-)stability of government financing during the Great Depression Author(s):PAPADIA, AndreaDate:2018Type:Working PaperSeries/Number:EUI MWP; 2018/06Abstract:The Great Depression, and the interwar period more generally, were characterized by macroeconomic mismanagement. Fiscal policy, in particular, was essentially not used to fight the slump. Despite this, I find that a higher ...
Date:2018Type:Working PaperSeries/Number:EUI MWP; 2018/06Abstract:The Great Depression, and the interwar period more generally, were characterized by macroeconomic mismanagement. Fiscal policy, in particular, was essentially not used to fight the slump. Despite this, I find that a higher ...
Title:Non-linearities and fiscal policy Author(s):FOTIOU, Alexandra AikateriniDate:2019Type:Working PaperSeries/Number:EUI MWP; 2019/11Abstract:Empirical evidence shows that fiscal multipliers depend on the state of the cycle, the nature of fiscal policy and the level of debt. In other words, evidence points to non-linearities in the effects of fiscal policy. This ...
Date:2019Type:Working PaperSeries/Number:EUI MWP; 2019/11Abstract:Empirical evidence shows that fiscal multipliers depend on the state of the cycle, the nature of fiscal policy and the level of debt. In other words, evidence points to non-linearities in the effects of fiscal policy. This ...