Stepping on a rake: The role of fiscal policy in the inflation of the 1970s

By Christopher A. Sims. 2011

180 citations recorded by the source corpus.

Subfields: Economics and Econometrics

View Paper: https://www.semanticscholar.org/paper/ba96693a6b07b8649929d4c362f70701cc37cb7c

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Economics and Econometrics

1. Campbell Leith
2. Eric M. Leeper
3. Francesco Bianchi
4. Aart C. Kraay
5. Troy A. Davig
6. V. Ramey

Citations in the corpus

• Monetary/Fiscal Policy Mix and Agents’ Beliefs (2017, unknown): “This “stepping on a rake” effect (Sims (2011)) implies that the central bank’s ability to control inflation is lost the moment that its actions are not adequately supported by the fiscal authority.”
• Growth, Slowdowns, and Recoveries (2019, unknown): “Clarida, Gali, and Gertler (2000) and Lubik and Schorfheide (2004) provide support in favor of violations of the Taylor principle, and Cochrane (1998), Sims (2011), and Bianchi and Ilut (2012) emphasize a dysfunctional interaction between the monetary and fiscal authorities.”
• Understanding Inflation as a Joint Monetary-Fiscal Phenomenon (2016, background): “29We draw fromWoodford (1998a), but Kim (2003), Cochrane (2014) and Sims (2011) study closely related models.”