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008210903t20212021oncd    ob   f000 0 eng d
040 |aCaOODSP|beng|erda|cCaOODSP
0410 |aeng|beng|bfre
0861 |aFB3-6/2021-4E-PDF
1001 |aDong, Wei, |eauthor.
24510|aComplementaries between fiscal policy and monetary policy : |bliterature review / |cby Wei Dong, Geoffrey Dunbar, Christian Friedrich, Dmitry Matveev, Romanos Priftis and Lin Shao.
264 1|aOttawa, Ontario, Canada : |bBank of Canada = Banque du Canada, |c2021.
264 4|c©2021
300 |a1 online resource (iii, 29 pages) : |bgraphs.
336 |atext|btxt|2rdacontent
337 |acomputer|bc|2rdamedia
338 |aonline resource|bcr|2rdacarrier
4901 |aStaff discussion paper = |aDocument d'analyse du personnel, |x1914-0568 ; |v2021-4
500 |aCover title.
500 |a"March 15, 2021."
504 |aIncludes bibliographical references (pages 22-29).
5203 |a"This paper reviews and summarizes the literature on the complementary relationship between fiscal policy and monetary policy. We focus on four types of fiscal policy: (1) automatic stabilizers, (2) state-contingent non-discretionary fiscal policy, (3) discretionary fiscal stimulus and (4) government credit policies. The literature shows that automatic fiscal stabilizers can play a role in stabilizing business cycle fluctuation. But because they can have multiple policy objectives, their optimal design remains an open question. An alternative policy framework features state-contingent non-discretionary fiscal expenditures with a pre-committed fiscal spending formula triggered by objective macroeconomic conditions. Such a policy offers the advantage of being timely and easy to communicate; but at the same time, it poses challenges for identifying appropriate triggers and program expenditures with high short-run multipliers"--Abstract, page ii.
546 |aIncludes abstracts in English and French.
650 0|aFiscal policy.
650 0|aMonetary policy.
650 6|aPolitique fiscale.
650 6|aPolitique monétaire.
7102 |aBank of Canada, |eissuing body.
830#0|aStaff discussion paper (Bank of Canada)|x1914-0568 ; |v2021-4.|w(CaOODSP)9.806273
85640|qPDF|s749 KB|uhttps://publications.gc.ca/collections/collection_2021/banque-bank-canada/FB3-6-2021-4-eng.pdf