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Interaction between fiscal and monetary policy in a dynamic nonlinear model

dc.contributor.authorBertella, Mario A. [UNESP]
dc.contributor.authorRego, Henio A.
dc.contributor.authorNeris, Celso
dc.contributor.authorSilva, Jonathas N. [UNESP]
dc.contributor.authorPodobnik, Boris
dc.contributor.authorStanley, H. Eugene
dc.contributor.institutionUniversidade Estadual Paulista (Unesp)
dc.contributor.institutionBoston Univ
dc.contributor.institutionFed Inst Educ Sci &Technol
dc.contributor.institutionUniversidade Estadual de Campinas (UNICAMP)
dc.contributor.institutionZagreb Sch Econ &Management
dc.contributor.institutionUniv Rijeka
dc.contributor.institutionUniv Ljubljana
dc.date.accessioned2015-10-21T20:46:19Z
dc.date.available2015-10-21T20:46:19Z
dc.date.issued2015-03-23
dc.description.abstractThe objective of this study is to verify the dynamics between fiscal policy, measured by public debt, and monetary policy, measured by a reaction function of a central bank. Changes in monetary policies due to deviations from their targets always generate fiscal impacts. We examine two policy reaction functions: the first related to inflation targets and the second related to economic growth targets. We find that the condition for stable equilibrium is more restrictive in the first case than in the second. We then apply our simulation model to Brazil and United Kingdom and find that the equilibrium is unstable in the Brazilian case but stable in the UK case.en
dc.description.affiliationSao Paulo State Univ UNESP, Dept Econ, BR-14800901 Araraquara, SP, Brazil
dc.description.affiliationBoston Univ, Ctr Polymer Studies, Boston, MA 02215 USA
dc.description.affiliationBoston Univ, Dept Phys, Boston, MA 02215 USA
dc.description.affiliationFed Inst Educ Sci &Technol, BR-65076091 Sao Luis, MA, Brazil
dc.description.affiliationCampinas State Univ UNICAMP, BR-13083857 Campinas, SP, Brazil
dc.description.affiliationZagreb Sch Econ &Management, Zagreb 10000, Croatia
dc.description.affiliationUniv Rijeka, Fac Civil Engn, Rijeka 51000, Croatia
dc.description.affiliationUniv Ljubljana, Fac Econ, Ljubljana 10000, Slovenia
dc.description.affiliationUnespSao Paulo State Univ UNESP, Dept Econ, BR-14800901 Araraquara, SP, Brazil
dc.description.sponsorshipFundação de Amparo à Pesquisa do Estado de São Paulo (FAPESP)
dc.description.sponsorshipCoordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)
dc.format.extent1-21
dc.identifierhttp://journals.plos.org/plosone/article?id=10.1371/journal.pone.0118917
dc.identifier.citationPlos One. San Francisco: Public Library Science, v. 10, n. 3, p. 1-21, 2015.
dc.identifier.doi10.1371/journal.pone.0118917
dc.identifier.fileWOS000351987300022.pdf
dc.identifier.issn1932-6203
dc.identifier.lattes9960511866241705
dc.identifier.urihttp://hdl.handle.net/11449/129290
dc.identifier.wosWOS:000351987300022
dc.language.isoeng
dc.publisherPublic Library Science
dc.relation.ispartofPlos One
dc.relation.ispartofjcr2.766
dc.relation.ispartofsjr1,164
dc.rights.accessRightsAcesso abertopt
dc.sourceWeb of Science
dc.titleInteraction between fiscal and monetary policy in a dynamic nonlinear modelen
dc.typeArtigopt
dcterms.rightsHolderPublic Library Science
dspace.entity.typePublication
relation.isDepartmentOfPublication22b7984c-9fdf-4958-8770-b20048dcbafe
relation.isDepartmentOfPublication.latestForDiscovery22b7984c-9fdf-4958-8770-b20048dcbafe
relation.isOrgUnitOfPublication0893b748-d216-4eba-952d-cd4676b310f6
relation.isOrgUnitOfPublication.latestForDiscovery0893b748-d216-4eba-952d-cd4676b310f6
unesp.author.lattes9960511866241705
unesp.author.orcid0000-0003-3237-0455[1]
unesp.campusUniversidade Estadual Paulista (UNESP), Faculdade de Ciências e Letras, Araraquarapt
unesp.departmentEconomia - FCLARpt

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