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Mechanisms of default risk transmission and economic policy coordination / Karlo Marques Junior and Fernando Motta Correia.
- Format:
- Book
- Government document
- Author/Creator:
- Marques Junior, Karlo, author.
- Language:
- English
- Subjects (All):
- Economic and Social Development.
- Local Subjects:
- Economic and Social Development.
- Physical Description:
- 1 online resource (19 pages)
- Contained In:
- CEPAL Review Vol. 2016, no. 120, p. 31-49 2016:120<31 16840348
- Place of Publication:
- New York : United Nations, 2017.
- System Details:
- text file
- Summary:
- This paper analyses the coordination between monetary and fiscal policy in an emerging economy with an inflation-targeting monetary regime, in a context in which default risk shocks can lead to macroeconomic imbalances. It develops a macrodynamic model in order to capture the mechanisms of default risk transmission and its effects on the definition of reaction functions for the monetary and fiscal authorities. The main findings of the model point to the existence of new mechanisms of default risk transmission associated with price and fiscal stability.
- Notes:
- Title from title screen (viewed May 1, 2017).
- Access Restriction:
- Restricted for use by site license.
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