Utilize este identificador para referenciar este registo: http://hdl.handle.net/10400.5/7415
Título: Interactions between Monetary Policy and Fiscal Policy
Autor: Afonso, António
Balhote, Raquel
Palavras-chave: interactions
monetary policy
fiscal policy
reaction functions
Data: 2014
Editora: ISEG – Departamento de Economia
Citação: Afonso, António e Raquel Balhote (2014). "Interactions between Monetary Policy and Fiscal Policy". Instituto Superior de Economia e Gestão - DE Working papers nº 13/2014/DE/UECE
Relatório da Série N.º: DE Working papers;nº 13/2014/DE/UECE
Resumo: Using a panel data set of 14 EU countries from 1970 to 2012, we study the type of monetary and fiscal policies of both authorities, and assess how they are influenced by certain economic variables and events (the Maastricht Treaty, the Stability and Growth Pact, the Euro and crises). Results show that inflation has a significant impact on monetary policy, and that governments raise their primary balances when facing increases in debt. Another goal is to characterise the type of interactions established between central banks and national governments, i.e. if their policies complement one another, or whether there is a more dominant one. Still, our results point to the lack of evidence concerning central banks’ response to fiscal policy.
URI: http://hdl.handle.net/10400.5/7415
ISSN: 2183-1815
Versão do Editor: https://aquila5.iseg.ulisboa.pt/aquila/getFile.do?method=getFile&fileId=504663&_request_checksum_=be9cb099d07bab607873b4049410e843d482a699
Aparece nas colecções:UECE - Documentos de Trabalho / UECE - Working Papers
DE - Documentos de trabalho / Working Papers

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