Optimal Exchange-Rate Targeting with Large Labor Unions (2009)
Cuciniello, Vincenzo, Lambertini, Luisa
We study whether monetary policy should target the exchange rate in a two-country model with non-atomistic wage setters, non-traded goods and different degrees of exchange- rate pass through....
Interactions of Commitment and Discretion in Monetary and Fiscal Policies (2007)
Avinash Dixit, Luisa Lambertini, Robert J. Barro, David B. Gordon
by
Exchange Rates and Fiscal Adjustments: Evidence from the OECD and Implications for EMU* (2007)
Luisa Lambertini, José Tavares
This paper characterizes monetary and exchange-rate policies during successful and unsuccessful fiscal adjustments by analyzing the OECD economies over the period 1970 to 1998. We find that...
Interactions of Commitment and Discretion (2007)
In Monetary And, A Microfounded Model, Avinash Dixit, Luisa Lambertini, Cj N
this paper we only consider sale taxes. Other types of fiscal policies are possible: government spending to purchase goods or supply-side policies, financed via debt or distortionary taxation of...
Is U.S. Fiscal Policy Optimal? (2007)
Giammarioli, Nicola, Lambertini, Luisa, Onorante, Luca
We characterize optimal fiscal policy in a model calibrated to the U.S. economy and use it as a benchmark to evaluate actual U.S. fiscal policy. We summarize optimal and actual fiscal policies by...
Optimal Fiscal Policy in a Monetary Union (2007)
We study optimal fiscal policy in a monetary union where monetary policy is decided by an independent central bank. We consider a two-country model with trade in goods and assets, augmented with...
Exchange Rates and Fiscal Adjustments: Evidence from the OECD and Implications for the EMU (2005)
Lambertini, Luisa, Tavares, José A
This paper investigates whether monetary and exchange rate policies are important for the success of major fiscal adjustments. We assess their role controlling for other determinants of success...
Exchange Rates and Fiscal Adjustments: Evidence from the OECD and Implications for the EMU (2005)
Lambertini, Luisa, Tavares, José A
This paper investigates whether monetary and exchange rate policies are important for the success of major fiscal adjustments. We assess their role controlling for other determinants of success...
Exchange Rates and Fiscal Adjustments: Evidence from the OECD and Implications for the EMU (2005)
Lambertini, Luisa, Tavares, José A
This paper investigates whether monetary and exchange rate policies are important for the success of major fiscal adjustments. We assess their role controlling for other determinants of success...
Exchange Rates and Fiscal Adjustments: Evidence from the OECD and Implications for the EMU (2005)
Lambertini, Luisa, Tavares, José A
This paper investigates whether monetary and exchange rate policies are important for the success of major fiscal adjustments. We assess their role controlling for other determinants of success...
Are Budget Deficits Used Strategically? (2004)
This paper tests empirically the strategic explanation of budget deficits sug- gested by Tabellini and Alesina [13] and Persson and Svensson [12]. Tabellini and Alesina suggest that governments with...
Volatility and Sovereign Default (2003)
Over and over again, history shows that countries default on external debt when their economies experience a downturn. This paper presents a theoretical model of international lending that is...
Exchange Rates and Fiscal Adjustments: Evidence from the OECD and Implications for EMU (2003)
Lambertini, Luisa, Tavares, José
We study monetary and exchange-rate policies around successful and unsuccessful fiscal adjustments and find that successful adjustments are preceded by large nominal exchange rate depreciations,...
Are Budget Deficits Used Strategically? (2003)
This paper tests empirically the strategic explanation of budget deficits suggested by Tabellini and Alesina and Persson and Svensson. Tabellini and Alesina suggest that governments with di erent...
Interactions of Commitment and Discretion in Monetary and Fiscal Policies (2003)
Dixit, Avinash, Lambertini, Luisa
We consider monetary-fiscal interactions when the monetary authority is more conservative than the fiscal. With both policies discretionary, (1) Nash equilibrium yields lower output and higher price...
The Fiscal Politics of Big Governments: Do Coalitions Matter? (2003)
Lambertini, Luisa, Azariadis, Costas
This paper uses a closed voting rule to explain how gradual changes in the socio-economic structure of developed societies shift political coalitions and lead to rapid expansions of transfer...
Technological Change and Public Financing of Education (2001)
We study investment in education in an overlapping generation model with altruism where credit market imperfections ration borrowing and cause persistent underinvestment in human capital. We...
Volatility and Sovereign Default (2001)
The history of international lending shows that countries default on external debt when their economies experience a downturn. This paper presents a theoretical model of international lending that is...
Fiscal Incentives and Industrial Agglomeration (2001)
Lambertini, Luisa, Peri, Giovanni
In the transitional phase towards full economic integration, European countries have the possibility of re-shaping the continental geography of specialization. We use an Economic Geography model of...
Theory and evidence on the accumulation of large public debts /--by Luisa Lambertini. (1995)
Thesis (Ph. D. in Economics)--University of California, Berkeley, December 1995.
Exchange Rates and Fiscal Adjustments: Evidence from the OECD and Implications for the EMU
Luisa Lambertini, José Tavares
This paper investigates whether monetary and exchange rate policies are important for the success of major fiscal adjustments. We assess their role controlling for other determinants of success...
Interactions of Commitment and Discretion in Monetary and Fiscal Policies
Avinash Dixit, Luisa Lambertini
We consider monetary-fiscal interactions when the monetary authority is more conservative than the fiscal. With both policies discretionary, (1) Nash equilibrium yields lower output and higher price...
Exchange Rates and Fiscal Adjustments: Evidence from the OECD and Implications for EMU
Luisa Lambertini, Jose Tavares
We study monetary and exchange-rate policies around successful and unsuccessful fiscal adjustments and find that successful adjustments are preceded by large nominal exchange rate depreciations,...
Fiscal Policy in a Monetary Union: Can Fiscal Cooperation be Counterproductive?
Luisa Lambertini, Paul Levine, Joseph Pearlman
We analyze the interaction of monetary and fiscal policies in a monetary union where the common central bank is more conservative than the fiscal authorities. When monetary and fiscal policies are...
Interactions of Commitment and Discretion in Monetary and Fiscal Policies
Avinash Dixit, Luisa Lambertini
We consider monetary-fiscal interactions when the monetary authority is more conservative than the fiscal. With both policies discretionary, (1) Nash equilibrium yields lower output and higher price...
Exchange Rates and Fiscal Adjustments: Evidence from the OECD and Implications for EMU
Lambertini, Luisa, Tavares, Jose
This paper characterizes monetary and exchange-rate policies during successful and unsuccessful fiscal adjustments by analyzing the OECD economies over the period 1970 to 1998. We find that...
Endogenous Debt Constraints in Lifecycle Economies
Costas Azariadis, Luisa Lambertini
We characterize competitive equilibria with perfect foresight in a deterministic, three-period pure-exchange overlapping generations economy with perfect information and no commitment to loan...
Inflation Convergence with Realignments in a Two-Speed Europe.
Lambertini, Luisa, Miller, Marcus, Sutherland, Alan
In the first decade of its existence, the European Monetary System passed through three phases of realignments: full accommodation, partial accommodation, and zero accommodation of inflation...
Monetary-Fiscal Interactions with a Conservative Central Bank
We study macroeconomic stabilization when monetary and fiscal policies interact via their effects on output and inflation and the monetary authority is more conservative than the fiscal. We find that...
Fiscal Incentives and Industrial Agglomeration
Luisa Lambertini, Giovanni Peri
In the transitional phase towards full economic integration, European countries have the possibility of re-shaping the continental geography of specialization. We use an Economic Geography model of...
Technological Change and Public Financing of Education
We study investment in education in an overlapping generation model with altruism where credit market imperfections ration borrowing and cause persistent underinvestment in human capital. We...
Are Budget Deficits Used Strategically?
This paper tests empirically the strategic explanation of budget deficits suggested by Tabellini and Alesina and Persson and Svensson. Tabellini and Alesina suggest that governments with di erent...
Volatility and Sovereign Default
The history of international lending shows that countries default on external debt when their economies experience a downturn. This paper presents a theoretical model of international lending that is...
Can Taxes Drive Agglomeration while approaching the Global Economy?
Giovanni Peri, Luisa Lambertini
In the transitional phase towards full economic integration, European countries have the possibility of re-shaping the continental geography of specialization. We develop a two-sector two-country...
Inflation Convergence with Realignments in a Two-Speed Europe
Lambertini, Luisa, Miller, Marcus, Sutherland, Alan
In the first decade of its existence the EMS passed through three phases of realignments: full accommodation, partial accommodation and zero accommodation of inflation differentials. To what extent,...
Optimal Fiscal Policy in a Monetary Union
We study optimal fiscal policy in a monetary union where monetary policy is decided by an independent central bank. We consider a two-country model with trade in goods and assets, augmented with...
Are Budget Deficits Used Strategically?
This paper tests empirically the strategic explanation of budget deficits sug- gested by Tabellini and Alesina [13] and Persson and Svensson [12]. Tabellini and Alesina suggest that governments with...
Is U.S. Fiscal Policy Optimal?
Nicola Giammarioli, Luisa Lambertini, Luca Onorante
We find and compare two simple fiscal rules. The first is a theoretical rule that approximates well Ramsey-optimal fiscal policy in a DSGE model calibrated to the U.S. economy over the period 1955:1...
Optimal Exchange-Rate Targeting with Large Labor Unions
Vincenzo Cuciniello, Luisa Lambertini
We study whether monetary policy should target the exchange rate in a two-country model with non-atomistic wage setters, non-traded goods and different degrees of exchange-rate pass through....
Volatility and Sovereign Default
Over and over again, history shows that countries default on external debt when their economies experience a downturn. This paper presents a theoretical model of international lending that is...
Optimal Fiscal Policy in a Monetary Union
We study optimal fiscal policy in a monetary union where monetary policy is decided by an independent central bank. We consider a two-country model with trade in goods and assets, augmented with...
Is U.S. Fiscal Policy Optimal?
Nicola Giammarioli, Luisa Lambertini, Luca Onorante
We find and compare two simple fiscal rules. The first is a theoretical rule that approximates well Ramsey-optimal fiscal policy in a DSGE model calibrated to the U.S. economy over the period 1955:1...
Optimal Exchange-Rate Targeting with Large Labor Unions
Vincenzo Cuciniello, Luisa Lambertini
We study whether monetary policy should target the exchange rate in a two-country model with non-atomistic wage setters, non-traded goods and different degrees of exchange-rate pass through....
Exchange Rates and Fiscal Adjustments: Evidence from the OECD and Implications for the EMU
Luisa Lambertini, José A. Tavares
This paper investigates whether monetary and exchange rate policies are important for the success of major fiscal adjustments. We assess their role controlling for other determinants of success...