Huixin Bi

Fiscal Limits, External Debt, and Fiscal Policy in Developing Countries

This paper studies fiscal policy effects in developing countries with external debt and sovereign default risks. State-dependent distributions of fisc...

Jointly Optimal Monetary and Fiscal Policy Rules under Borrowing Constraints

We study the welfare properties of an economy where both monetary and fiscal policy follow simple rules, and where a subset of agents is borrowing con...

Fiscal Implications of Interest Rate Normalization in the United States

This paper studies the main channels through which interest rate normalization has fiscal implications in the United States. While unexpected inflatio...