Region Focus

2012

 

Fourth Quarter 2012

Game Strategy in Fiscal Straits

When government debts become large, lessons of game theory might help avoid a crisis

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Related Links

"Fiscal Rules—Anchoring Expectations for Sustainable Public Finances." International Monetary Fund, Dec. 16, 2009.

Franta, Michal, Jan Libich, and Petr Stehlík. "Tracking Monetary-Fiscal Interactions Across Time and Space" Czech National Bank Working Paper No. 6/2012, June 2012.

Leeper, Eric M. "Monetary Science, Fiscal Alchemy." Paper presented at the Federal Reserve Bank of Kansas City's 2010 Economic Policy Symposium, Jackson Hole, Wy., Aug. 26-28, 2010.

Jan Libich interview with Don Brash.

Jan Libich interview with Eric Leeper.

Libich, Jan, and Petr Stehlík. "Monetary Policy Facing Fiscal Indiscipline Under Generalized Timing of Actions." Journal of Institutional and Theoretical Economics, September 2012, vol. 168, no. 3, pp. 393-431.

Libich, Jan, Andrew Hughes Hallet, Petr Stehlík. "Monetary and Fiscal Policy Interaction With Various Degrees of Commitment." Paper presented at the annual meetings of the American Economic Association, Chicago, Il., Jan. 6, 2012.

"The 2012 Long-Term Budget Outlook." Congressional Budget Office, June 5, 2012.

Sargent, Thomas J., and Neil Wallace. "Some Unpleasant Monetarist Arithmetic." Federal Reserve Bank of Minneapolis Quarterly Review, Fall 1981, vol. 5, no 3, pp. 1-17.

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