scholarly journals Svars with Occasionally-Binding Constraints

2021 ◽  
Author(s):  
S. Boragan Aruoba ◽  
Marko Mlikota ◽  
Frank Schorfheide ◽  
Sergio Villalvazo
Keyword(s):  
Binding Constraints ◽  
Occasionally Binding Constraints

scholarly journals Likelihood evaluation of models with occasionally binding constraints

2019 ◽  
Vol 34 (7) ◽  
pp. 1073-1085 ◽  
Author(s):  
Pablo Cuba‐Borda ◽  
Luca Guerrieri ◽  
Matteo Iacoviello ◽  
Molin Zhong
Keyword(s):  
Binding Constraints ◽  
Occasionally Binding Constraints

scholarly journals Multiperiod Loans, Occasionally Binding Constraints, and Monetary Policy: A Quantitative Evaluation

2020 ◽  
Vol 52 (7) ◽  
pp. 1691-1718 ◽  
Author(s):  
KRISTINA BLUWSTEIN ◽  
MICHAł BRZOZA‐BRZEZINA ◽  
PAOLO GELAIN ◽  
MARCIN KOLASA
Keyword(s):  
Monetary Policy ◽  
Quantitative Evaluation ◽  
Binding Constraints ◽  
Occasionally Binding Constraints

MODELLING STATE-CONTINGENT FISCAL RULES IN THE UNITED KINGDOM

2020 ◽  
Vol 254 ◽  
pp. R41-R53
Author(s):  
Jamie Rush
Keyword(s):  
United Kingdom ◽  
Fiscal Rules ◽  
Output Gap ◽  
Gdp Growth ◽  
British Government ◽  
The United Kingdom ◽  
Solution Methods ◽  
Binding Constraints ◽  
The Uk ◽  
Occasionally Binding Constraints

I assess a novel rule that was introduced in the UK in 2015. It gave the British government fiscal flexibility whenever GDP growth warranted it. This rule lasted just a year, but it had features worth exploring. I apply solution methods for models with occasionally-binding constraints to assess the demand stabilisation properties of state-contingent fiscal rules. First it is shown that fiscal flexibility can make recessions shallower. Second, it is suggested that GDP growth, rather than measures of the output gap, is a better indicator for triggering fiscal flexibility.

Sign in / Sign up

Export Citation Format

Share Document