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What is Crisis Monetary & Fiscal Policy Analysis about?

This paper develops a continuous-time DSGE model to analyze the interdependence of monetary and fiscal policies during financial crises, highlighting the impact of different policy combinations on economic stability. The findings suggest that a modified Taylor rule can mitigate the effects of financial crises on the real economy, while a mix of expansionary monetary policy and austerity-oriented fiscal policy is more effective in stabilizing economies. The study also examines the challenges faced by monetar

Author

Ai Kar Pao

Language

EN