ORCID Profile
0000-0002-0171-8861
Current Organisations
University Of Strathclyde
,
University of Pavia
,
Griffith University Griffith Business School
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Publisher: Wiley
Date: 06-2002
Publisher: Elsevier BV
Date: 06-2012
Publisher: Elsevier BV
Date: 11-2014
Publisher: Elsevier BV
Date: 05-2014
Publisher: Elsevier BV
Date: 02-1992
Publisher: Routledge
Date: 08-11-2007
Publisher: Cambridge University Press
Date: 19-02-2004
Publisher: Wiley
Date: 20-09-2012
Publisher: Wiley
Date: 08-07-2008
Publisher: Elsevier BV
Date: 11-2003
Publisher: Elsevier BV
Date: 2016
Publisher: Springer Science and Business Media LLC
Date: 17-02-2012
Publisher: Elsevier BV
Date: 03-2012
Publisher: Wiley
Date: 11-1994
Publisher: Wiley
Date: 03-2000
Publisher: Elsevier BV
Date: 02-2017
Publisher: Wiley
Date: 13-04-2019
DOI: 10.1111/ECIN.12791
Publisher: Oxford University Press (OUP)
Date: 2005
Publisher: Elsevier BV
Date: 12-2016
Publisher: Wiley
Date: 17-12-2019
DOI: 10.1111/ECIN.12870
Publisher: Elsevier BV
Date: 07-2019
Publisher: Oxford University Press (OUP)
Date: 10-1995
Publisher: Cambridge University Press (CUP)
Date: 07-01-2014
DOI: 10.1017/S1365100513000394
Abstract: The limited asset-market participation hypothesis has triggered a debate on DSGE models' determinacy when the central bank implements a standard Taylor rule. We reconsider the issue here in the context of an exogenous money supply rule, documenting the role of nominal and real frictions in determining these results. A general conclusion is that frictions matter for stability insofar as they redistribute income between Ricardian and non-Ricardian households when shocks hit the economy. Finally, we extend the model to allow for the possibility that consumers who do not participate in the market for interest-bearing securities hold money. In this case, endogenous monetary transfers between the two groups make it possible to smooth consumption differences, and the model is determinate, provided that the non-negativity constraint on in idual money holdings is satisfied.
Publisher: Walter de Gruyter GmbH
Date: 06-01-2008
Publisher: Physica-Verlag HD
Date: 2007
Publisher: Elsevier BV
Date: 10-2009
Publisher: Springer Science and Business Media LLC
Date: 05-2007
Publisher: Springer Science and Business Media LLC
Date: 10-02-2015
Publisher: Oxford University Press (OUP)
Date: 10-1998
DOI: 10.1093/OEP/50.4.644
Publisher: Cambridge University Press (CUP)
Date: 19-07-2018
DOI: 10.1017/S1365100518000433
Abstract: In this paper, we adopt a Ramsey optimal approach to identify the combination of income taxes, public expenditure, and inflation designed to achieve a fiscal consolidation. In contrast with empirical contributions that emphasize the benefits of expenditure-based consolidations, the optimal policy calls for increases in taxes and inflation. Strong monetary accommodation is quite beneficial relative to a situation where the Central Bank is only concerned with inflation stability and the inflation target is defined as a ceiling, as in the Eurozone.
Publisher: Cambridge University Press (CUP)
Date: 21-03-2014
DOI: 10.1017/S1365100513000837
Abstract: This paper offers a reinterpretation of the Fed's time-varying implicit inflation target, based on two considerations. The first is that the need to alleviate the burden of distortionary taxation may justify the choice of a positive inflation rate. The second is based on compelling evidence that the degree of price and wage indexation falls with trend inflation. In fact, we find that a proper characterization of the joint evolution of fiscal variables and nominal rigidities has a strong impact on the Ramsey optimal policies, implying optimal inflation dynamics that are consistent with the observed evolution of U.S. trend inflation. By contrast, tax policies have been too lax, especially at the time of the controversial Bush tax cuts.
Publisher: Elsevier BV
Date: 08-2017
Publisher: Springer Science and Business Media LLC
Date: 02-1991
DOI: 10.1007/BF01886135
Publisher: Wiley
Date: 02-1998
Publisher: Elsevier BV
Date: 03-2017
Publisher: Elsevier BV
Date: 12-2011
Publisher: Wiley
Date: 09-1993
Publisher: Cambridge University Press
Date: 19-02-2004
Publisher: Elsevier BV
Date: 2007
Publisher: Routledge
Date: 15-07-2016
Publisher: Elsevier BV
Date: 06-2004
Publisher: Elsevier BV
Date: 11-2008
Publisher: Wiley
Date: 12-1998
Location: United Kingdom of Great Britain and Northern Ireland
No related grants have been discovered for patrizio tirelli.