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Inequality, Fiscal Policy and COVID19 Restrictions in a Demand-Determined Economy
Auerbach, Alan J. - 2020
We evaluate the effects of inequality, fiscal policy, and COVID19 restrictions in a model of economic slack with … potentially rigid capital operating costs. Inequality has large negative effects on output, while also diminishing the effects of … restrictions themselves when rigid capital costs induce firm exit. Higher inequality is associated with larger restriction …
Persistent link: https://www.econbiz.de/10012481561
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Inequality, Business Cycles, and Monetary-Fiscal Policy
Bhandari, Anmol - 2018
We study optimal monetary and fiscal policy in a model with heterogeneous agents, incomplete markets, and nominal rigidities. We develop numerical techniques to approximate Ramsey plans and apply them to a calibrated economy to compute optimal responses of nominal interest rates and labor tax...
Persistent link: https://www.econbiz.de/10012453010
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Should the Rich Be Taxed More? The Fiscal Inequality Coefficient
Hatgioannides, John - 2017
national income (or wealth) appropriated by the same income group. In turn, we develop the Fiscal Inequality Coefficient which …
Persistent link: https://www.econbiz.de/10012948621
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How Effective Have Fiscal Policies Been in Changing the Distribution of Income and Wealth?
King, Mervyn A. - 1980
shall divide the issue into two questions. How effective has fiscal policy been in reducing inequality? Mow big are the …
Persistent link: https://www.econbiz.de/10012478675
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Fiscal Multipliers : A Heterogenous-Agent Perspective
Broer, Tobias; Krusell, Per; Öberg, Erik - National Bureau of Economic Research - 2021
We use an analytically tractable heterogeneous-agent (HANK) version of the standard New Keynesian model to show how the size of fiscal multipliers depends on i) the distribution of factor incomes, and ii) the source of nominal rigidities. With sticky prices but flexible wages, the standard...
Persistent link: https://www.econbiz.de/10012482584
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A Survey of the Role of Fiscal Policy in Addressing Income Inequality, Poverty Reduction and Inclusive Growth
Heshmati, Almas - 2014
poverty and income inequality have invited increasing volumes of research focusing on the nexus between equity and efficient … into a middle income country (ADB, 2014). This has stimulated the need to understand causes of inequality and poverty for … to offer an efficient policy options for Asian countries. Major determinant factors of growing inequality, poverty and a …
Persistent link: https://www.econbiz.de/10013054924
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A Fresh Look at Fiscal Redistribution and Inequality in the US Across Electoral Cycles
Sala, Hector - 2018
The evolution of the ratio of direct taxation (characterized by progressive rates) over indirect and payroll taxation (characterized by flat rates) is examined together with its distributional consequences for the Bottom 50%, Middle 40% and Top 10% shares of income. Oscillations of this ratio...
Persistent link: https://www.econbiz.de/10012909982
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Risky Behavior Among Youths : An Economic Analysis
Gruber, Jonathan - 2000
There are a host of potentially risky behaviors in which youth engage, which have important implications for both their well being as youth and their life prospects. The past decade has seen dramatic shifts in the intensity with which youths pursue these risky activities: for example, youth...
Persistent link: https://www.econbiz.de/10012470969
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Rational Capital Budgeting in an Irrational World
Stein, Jeremy C. - 1996
This paper addresses the following basic capital budgeting question: Suppose that cross-sectional differences in stock returns can be predicted based on variables other than beta (e.g., book-to- market), and that this predictability reflects market irrationality rather than compensation for...
Persistent link: https://www.econbiz.de/10012473363
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Rational Finite Bubbles
Allen, Franklin - 1991
There has been a long-running debate about whether stock market prices are determined by fundamentals. To date no consensus has been reached. An important issue in this debate concerns the circumstances in which deviations from fundamentals are consistent with rational behavior. A...
Persistent link: https://www.econbiz.de/10012475283