Add to ORKGWe study alternative scenarios for exiting the post-crisis fiscal and monetary accommodation using the model of Angeloni and Faia (2010), that combines a standard DSGE framework with a fragile banking sector, suitably modified and calibrated for the euro area. Credibly announced and fast fiscal consolidations dominate – based on simple criteria – alternative strategies incorporating various degrees of gradualism and surprise. The fiscal adjustment should be based on spending cuts or else be relatively skewed towards consumption taxes. The phasing out of monetary accommodation should be simultaneous or slightly delayed. We also find that, contrary to widespread belief, Basel III may well have an expansionary macroeconomic effect. Keywords: E...
The 2007-2009 financial crisis was caused by financial markets' greed and instability. The crisis le...
open access articleUnconventional approaches to suit unusual circumstances have become acceptable in...
In the aftermath of the global financial crisis and great recession, many countries face substantial...
We study alternative scenarios for exiting the post-crisis fiscal and monetary accommodation using t...
We study alternative scenarios for exiting the post-crisis fiscal and monetary accommodation using a...
This Policy Brief was adapted from a paper written by the three authors and presented by Bruegel Dir...
This Policy Brief was adapted from a paper written by the three authors and presented by Bruegel Dir...
This Policy Brief was adapted from a paper written by the three authors and presented by Bruegel Dir...
The 2007-2009 financial crisis was caused by financial markets’ greed and instability. The crisis le...
We develop a roadmap of how the ECB should further reduce the volume of money (money supply) and rol...
Senior Non-Resident Fellow Jürgen von Hagen offers his recommendations for the proper monetary polic...
The financial crisis that erupted in 2007 triggered the deepest global recession since the 1930s. In...
The financial crisis that erupted in 2007 triggered the deepest global recession since the 1930s. In...
We develop a roadmap of how the ECB should further reduce the volume of money (money supply) and rol...
In the aftermath of the global financial crisis and great recession, many countries face substantial...
The 2007-2009 financial crisis was caused by financial markets' greed and instability. The crisis le...
open access articleUnconventional approaches to suit unusual circumstances have become acceptable in...
In the aftermath of the global financial crisis and great recession, many countries face substantial...
We study alternative scenarios for exiting the post-crisis fiscal and monetary accommodation using t...
We study alternative scenarios for exiting the post-crisis fiscal and monetary accommodation using a...
This Policy Brief was adapted from a paper written by the three authors and presented by Bruegel Dir...
This Policy Brief was adapted from a paper written by the three authors and presented by Bruegel Dir...
This Policy Brief was adapted from a paper written by the three authors and presented by Bruegel Dir...
The 2007-2009 financial crisis was caused by financial markets’ greed and instability. The crisis le...
We develop a roadmap of how the ECB should further reduce the volume of money (money supply) and rol...
Senior Non-Resident Fellow Jürgen von Hagen offers his recommendations for the proper monetary polic...
The financial crisis that erupted in 2007 triggered the deepest global recession since the 1930s. In...
The financial crisis that erupted in 2007 triggered the deepest global recession since the 1930s. In...
We develop a roadmap of how the ECB should further reduce the volume of money (money supply) and rol...
In the aftermath of the global financial crisis and great recession, many countries face substantial...
The 2007-2009 financial crisis was caused by financial markets' greed and instability. The crisis le...
open access articleUnconventional approaches to suit unusual circumstances have become acceptable in...
In the aftermath of the global financial crisis and great recession, many countries face substantial...