WorldCat Identities

Leith, Campbell

Overview
Works: 23 works in 61 publications in 2 languages and 241 library holdings
Roles: Author
Publication Timeline
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Most widely held works by Campbell Leith
Monetary and fiscal policy interactions in a new Keynesian model with capital accumulation and non-Ricardian consumers by Campbell Leith( Book )

8 editions published in 2006 in English and held by 47 WorldCat member libraries worldwide

Compatibility between monetary and fiscal policy under EMU by Campbell Leith( Book )

4 editions published in 2001 in English and held by 8 WorldCat member libraries worldwide

Unemployment and the productivity slowdown : a labour supply perspective by Campbell Leith( Book )

3 editions published in 2001 in English and held by 6 WorldCat member libraries worldwide

Interactions between monetary and fiscal policy under flexible exchange rates by Campbell Leith( Book )

3 editions published in 2002 in English and held by 5 WorldCat member libraries worldwide

Interest rates and the price level by Campbell Leith( Book )

3 editions published in 1997 in English and held by 4 WorldCat member libraries worldwide

Interest rate feedback rules in an open economy with forward looking inflation by Campbell Leith( Book )

2 editions published in 2000 in English and held by 3 WorldCat member libraries worldwide

Fiscal policy, macroeconomics stability and finite horizons by Javier Andrés( Book )

2 editions published in 2005 in Spanish and held by 2 WorldCat member libraries worldwide

Special issue : fiscal policy by EMU Macroeconomic Model Comparison exercise for the Euroconference( Book )

1 edition published in 2006 in English and held by 2 WorldCat member libraries worldwide

Debt stabilization in a non-Ricardian economy by Simon Wren-Lewis( Book )

2 editions published in 2011 in English and held by 1 WorldCat member library worldwide

In models with a representative infinitely lived household, modern versions of tax smoothing imply that the steady-state of government debt should follow a random walk. This is unlikely to be the case in OLG economies, where the equilibrium interest rate may differ from the policy-maker's rate of time preference such that it may be optimal to reduce debt today to reduce distortionary taxation in the future. Moreover, the level of the capital stock (and therefore output and consumption) in these economies is likely to be sub-optimally low, and reducing government debt will 'crowd in' additional capital. Using an elaborated version of the model of perpetual youth developed by Blanchard (1985) and Yaari (1985), we derive the optimal steady state level of government assets. We show how and why this level of government assets falls short of the level of debt that achieves the optimal capital stock and the level that eliminates income taxes
Unemployment And The Productivity Slowdown : An Effciency Wage Perspective by Haruyama Tetsugen( Book )

1 edition published in 2010 in English and held by 1 WorldCat member library worldwide

Fiscal policy( Book )

1 edition published in 2006 in English and held by 1 WorldCat member library worldwide

Understanding inflation as a joint monetary-fiscal phenomenon by Eric Michael Leeper( Book )

4 editions published in 2016 in English and held by 1 WorldCat member library worldwide

Abstract: We develop the theory of price-level determination in a range of models using both ad hoc policy rules and jointly optimal monetary and fiscal policies and discuss empirical issues that arise when trying to identify monetary-fiscal regime. The article concludes with directions in which theoretical and empirical developments may go. The article is prepared for the Handbook of Macroeconomics, volume 2 (John B. Taylor and Harald Uhlig, editors, Elsevier Press)
Taylor rules in the open economy by Campbell Leith( )

1 edition published in 2002 in English and held by 1 WorldCat member library worldwide

Fiscal Sustainability in a New Keynesian Model by Campbell Leith( )

2 editions published between 2006 and 2007 in English and held by 0 WorldCat member libraries worldwide

Most recent work deriving optimal monetary policy utilising New Neo-Classical Synthesis (NNCS) models abstract from the impact of monetary policy on the government's finances, by assuming that any change in the government's budget can be financed through lump sum taxes. In this paper, we assume that the government does not have access to such taxes to satisfy its intertemporal budget constraint in the face of shocks. We then consider optimal monetary and fiscal policies under discretion and commitment in the face of technology, preference and cost-push shocks. We confirm that the optimal precommitment policy implies a random walk in the steady-state level of debt. We also find that the time-inconsistency in the optimal precommitment policy is such that governments are tempted, given inflationary expectations, to utilise their monetary and fiscal instruments in the initial period to change the ultimate debt burden they need to service. We show that this temptation is only eliminated if following shocks, the new steady-state debt is equal to the original (efficient) debt level. This implies that under a discretionary policy the random walk result is overturned: debt will always be returned to this initial steady-state even although there is no explicit debt target in the government's objective function. Analytically and in a series of numerical simulations we show which instrument is used to stabilise the debt depends crucially on the degree of nominal inertia and the size of the debt-stock. We also show that the welfare consequences of introducing debt are negligible for precommitment policy, but can be significant for discretionary policy
Fiscal stabilisation policy and fiscal institutions by Campbell Leith( )

1 edition published in 2006 in English and held by 0 WorldCat member libraries worldwide

Electoral Uncertainty, the Deficit Bias and the Electoral Cycle in a New Keynesian Economy by Simon Wren-Lewis( )

1 edition published in 2009 in English and held by 0 WorldCat member libraries worldwide

Recent attempts to incorporate optimal fiscal policy into New Keynesian models subject to nominal inertia, have tended to assume that policy makers are benevolent and have access to a commitment technology. A separate literature, on the New Political Economy, has focused on real economies where there is strategic use of policy instruments in a world of political conflict. In this paper we combine these literatures and assume that policy is set in a New Keynesian economy by one of two policy makers facing electoral uncertainty (in terms of infrequent elections and an endogenous voting mechanism). The policy makers generally share the social welfare function, but differ in their preferences over fiscal expenditure (in its size and/or composition). We use this model to examine three issues that arise from either literature. First, we consider the extent to which electoral competition gives rise to a debt or deficit bias, as one party seeks to win elections and tie the hands of a potential successor, when all debt is defined in nominal terms. Second we examine the extent and nature of the electoral cycle introduced by having two parties reflecting different preferences over either the composition or amount of government spending. Third, we examine whether electoral competition has any impact on the conventional business cycle stabilisation policy, compared to the standard analysis that assumes a single benevolent government
The costs of fiscal inflexibility by Campbell Leith( )

1 edition published in 2006 in English and held by 0 WorldCat member libraries worldwide

 
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Audience level: 0.86 (from 0.71 for Understand ... to 1.00 for Electoral ...)

Alternative Names
Leith, Camnbell B.

Leith, Campbell

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