Showing 1 - 10 of 153
A New-Keynesian model with deep habits and optimal monetary policy delivers a larger-than-1 fiscal multiplier and consumption crowding in. Optimized Taylor-type rules dominate a conventional Taylor rule. Consumption is crowded out if the Taylor rule is suboptimal or if commitment is absent.
Persistent link: https://www.econbiz.de/10010580503
This comprehensive Handbook presents the current state of art in the theory and methodology of macroeconomic data analysis. It is intended as a reference for graduate students and researchers interested in exploring new methodologies, but can also be employed as a graduate text. The Handbook...
Persistent link: https://www.econbiz.de/10011177639
This comprehensive Handbook presents the current state of art in the theory and methodology of macroeconomic data analysis. It is intended as a reference for graduate students and researchers interested in exploring new methodologies, but can also be employed as a graduate text. The Handbook...
Persistent link: https://www.econbiz.de/10011177661
Persistent link: https://www.econbiz.de/10011589513
We analyze the effects of a government-spending expansion in a dynamic stochastic general equilibrium model with Mortensen–Pissarides labor-market frictions, deep habits in private and public consumption, investment adjustment costs, a constant elasticity of substitution (CES) production...
Persistent link: https://www.econbiz.de/10010946243
Persistent link: https://www.econbiz.de/10012126887
This paper develops a multi-sector, small open economy Dynamic Stochastic General Equilibrium model, which includes the accumulation of human capital, built via public expenditures in education and health. Four possible fiscal rules are examined for total public investment in infrastructure,...
Persistent link: https://www.econbiz.de/10012246058
Persistent link: https://www.econbiz.de/10010625707
Persistent link: https://www.econbiz.de/10012881714
Persistent link: https://www.econbiz.de/10011554196