While dynamic stochastic general equilibrium (DSGE) models for monetary policy analysis have come a long way, there is considerable difference of opinion over the role these models should play in the
This paper re-examines the relationship between debt and growth with and without the influence of global shocks for a panel of 22 economies from 2000 to 2019. The analysis introduces an approach that
In October 1979 the Federal Reserve shifted from an interest rate oriented operating procedure to a reserves oriented procedure. It is argued in this paper that part of the very large increase in inte