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Monetary and Fiscal Policy through a DSGE Lens - Oxford Scholarship Online
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Monetary and Fiscal Policy through a DSGE Lens

Harold L. Cole

Abstract

This text is designed to bridge the gap between Ph.D. and undergraduate textbooks in Macroeconomics. The text develops a dynamic stochastic general equilibrium model of money using a cash-in-advance constraint and endogenous production as in the real business cycle literature. The costs of inflation and optimal monetary policy, the impact of labor and capital taxes and as well as optimal fiscal policy are covered. Many extensions, including new Keynesian liquidity shock models are developed. Both standard analytic methods, such as Lagrangian methods, and computational methods using Matlab and ... More

Keywords: Monetary policy, fiscal policy, cash-in-advance, real business cycles, new Keynesian and liquidity models, computational methods

Bibliographic Information

Print publication date: 2020 Print ISBN-13: 9780190076030
Published to Oxford Scholarship Online: April 2020 DOI:10.1093/oso/9780190076030.001.0001

Authors

Affiliations are at time of print publication.

Harold L. Cole, author
Professor of Economics, University of Pennsylvania