Optimal fiscal and monetary policy with sticky prices

In this paper I consider the role of state-contingent inflation as a fiscal shock absorber in an economy with nominal rigidities. I study the Ramsey equilibrium in a monetary model with distortionary taxation, nominal non-state-contingent debt, and sticky prices. With sticky prices, the Ramsey plann...

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Veröffentlicht in:	Journal of monetary economics 2004-04, Vol.51 (3), p.575-607
1. Verfasser:	Siu, Henry E.
Format:	Artikel
Sprache:	eng
Schlagworte:	Equilibrium Fiscal policy Government spending Inflation Inflation volatility Monetary economics Monetary policy Optimal fiscal and monetary policy Prices Ramsey equilibrium Shock absorbers Sticky prices Studies Tax rates Tax smoothing Volatility
Online-Zugang:	Volltext
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