Optimal fiscal and monetary policy under sticky prices

By Stephanie Schmitt-Grohé, Martin Uribe. Journal of Economics Theory, 2004

712 citations recorded by the source corpus.

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Citations in the corpus

Firm-specific capital, nominal rigidities and the business cycle (2011, neutral): “Similar specifications have been used by a variety of authors including Sims (1994) and Schmitt-Grohe and Uribe (2004).”
One Money, but Many Fiscal Policies in Europe: What Are the Consequences? (2002, neutral): “Schmitt-Grohe and Uribe (2001) study optimal fiscal and monetary policy under Calvo sticky product prices in a stochastic production economy without capital.”
Modern Macroeconomics in Practice: How Theory is Shaping Policy (2006, neutral): “…optimal monetary policy involves a compromise between positive interest rates to reduce inflation and promote price stability on the one hand, and a nominal interest rate of zero on the other (Benigno and Woodford, 2003; Khan, King, and Wolman, 2003; Siu, 2004; Schmitt-Grohé and Uribe, 2004).”
Optimal Monetary Policy in a Small Open Economy with Home Bias (2008, background): “Examples include, in the context of closed economy models, Adao et al. (2003), Khan, King and Wolman (2003), Schmitt-Grohe and Uribe (2004) and Siu (2004).2 However, most of the welfare analysis of monetary policy in the recent literature builds on a linear-quadratic approximation approach in the…”
Welfare Implications of Calvo Vs. Rotemberg Pricing Assumptions (2008, neutral): “2See for example Schmitt-Grohé and Uribe (2004).”
Monetary and Fiscal Policy Interactions in a Micro-Founded Model of a Monetary Union (2005, methodology): “Moreover, with equal rigidities, we can rewrite (34) into a “world” and a “relative” part (see Additional Appendix F):”
The Optimal Rate of Inflation (2010, methodology): “For more details of the calibration strategy, see Schmitt-Grohé and Uribe (2004b).”
Monetary Conservatism and Fiscal Policy (2008, methodology): “18 ECB Working Paper Series No 663 July 2006 taken from Schmitt-Grohé and Uribe (2004a).10 The parameterization for the mark-up shock process ηt is taken from Ireland (2004).11 To test the robustness of our results, we consider also a range of alternative model parameterizations.”
The Chicago Plan Revisited (2012, methodology): “But Simons was always acutely aware that such securities might over time develop into near monies, thereby defeating the purpose of the Chicago Plan by turning the investment trusts into new creators of money. There are two alternatives that avoid this outcome. Simons himself, in Simons (1946), advo”
Ramsey Monetary Policy With Labour Market Frictions (2009, background): “This also implies that optimal 1See Schmitt-Grohe and Uribe (2004) and Faia (2005) among others. inflation volatility is U-shaped with respect to workers’ bargaining power.”
Understanding Inflation as a Joint Monetary-Fiscal Phenomenon (2016, background): “Sims (2013) and Cochrane (2011a) emphasize the possibility of solutions with unbounded inflation; McCallum (1984) and Canzoneri, Cumby, and Diba (2001b) display solutions with unbounded debt that hinge on the presence of non-distorting taxes.”