Introduces fiscal policy in an optimizing model of a currency area. Analyze optimal policy. Shows that coordination of fiscal policy is required in the presence of sticky prices. Lay out standard model for analysis of policy in a monetary union within the New Keynesian literature
Optimal monetary and fiscal policy in a currency union
Monacelli, Tommaso
2008
Abstract
Introduces fiscal policy in an optimizing model of a currency area. Analyze optimal policy. Shows that coordination of fiscal policy is required in the presence of sticky prices. Lay out standard model for analysis of policy in a monetary union within the New Keynesian literature
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