Add to ORKGWe study the term structure implications of the fiscal theory of price level determination. We introduce the intertemporal budget constraint of the government in a general equilibrium model in continuous time. Fiscal policy is set according to a simple rule whereby taxes react proportionally to real debt. We show how to solve for the prices of real and nominal zero coupon bonds.bond pricing; fiscal policy; mathematical methods
In this paper we study the implications of the unemployment insurance (UI) financing system on wage ...
This paper presents a general equilibrium model of the determination of equilibrium in the interbank...
This paper has two objectives. The first is to identify the long-term public perception of monetary ...
This paper deals with the interaction of fiscal and monetary policy when the central bank is pursuin...
In this paper we consider inflation and government debt dynamics when monetary policy employs a glob...
Using an optimisation-based model with endogenous labour supply and a proportional tax rate, we comp...
We present a dynamic general equilibrium model with some nominal rigidities and calibrate it to euro...
This paper studies financial market disturbances as sources of investment fluctuations in Finland du...
This paper derives and estimates an aggregate Euler consumption equation which allows one to compare...
I explore the dynamics in overlapping generations models with pure exchange and lump-sum taxes, when...
This paper analyses different operational central bank policies and their impact on the behaviour of...
This paper studies the competitive and efficiency implications of financial conglomeration driven by...
In most countries, banks’ equity holdings in firms that borrow from then are rather small. In light ...
The paper presents a structural model framework for a small open economy. The model, based on optimi...
This paper presents a duopoly model of the securities settlement industry. Because pooling a large a...
In this paper we study the implications of the unemployment insurance (UI) financing system on wage ...
This paper presents a general equilibrium model of the determination of equilibrium in the interbank...
This paper has two objectives. The first is to identify the long-term public perception of monetary ...
This paper deals with the interaction of fiscal and monetary policy when the central bank is pursuin...
In this paper we consider inflation and government debt dynamics when monetary policy employs a glob...
Using an optimisation-based model with endogenous labour supply and a proportional tax rate, we comp...
We present a dynamic general equilibrium model with some nominal rigidities and calibrate it to euro...
This paper studies financial market disturbances as sources of investment fluctuations in Finland du...
This paper derives and estimates an aggregate Euler consumption equation which allows one to compare...
I explore the dynamics in overlapping generations models with pure exchange and lump-sum taxes, when...
This paper analyses different operational central bank policies and their impact on the behaviour of...
This paper studies the competitive and efficiency implications of financial conglomeration driven by...
In most countries, banks’ equity holdings in firms that borrow from then are rather small. In light ...
The paper presents a structural model framework for a small open economy. The model, based on optimi...
This paper presents a duopoly model of the securities settlement industry. Because pooling a large a...
In this paper we study the implications of the unemployment insurance (UI) financing system on wage ...
This paper presents a general equilibrium model of the determination of equilibrium in the interbank...
This paper has two objectives. The first is to identify the long-term public perception of monetary ...