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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/10012831278
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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/10012916616
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Fiscal Multipliers : A Heterogenous-Agent Perspective
Broer, Tobias; Krusell, Per; Öberg, Erik - 2022
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/10014089542
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How Effective Have Fiscal Policies Been in Changing the Distribution of Income and Wealth?
King, Mervyn - 2021
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/10013233898
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Can a Rational Choice Framework Make Sense of Anorexia Nervosa?
Goldfarb, Robert S.; Leonard, Thomas C. (Tim); … - 2022
Can a rational choice modeling framework help broaden our understanding of anorexia nervosa? This question is interesting because anorexia nervosa is a serious health concern, and because of the following issue: could a rational choice approach shed useful light on a condition which appears to...
Persistent link: https://www.econbiz.de/10014209325
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How are Preferences Revealed?
Beshears, John - 2010
Revealed preferences are tastes that rationalize an economic agent's observed actions. Normative preferences represent the agent's actual interests. It sometimes makes sense to assume that revealed preferences are identical to normative preferences. But there are many cases where this assumption...
Persistent link: https://www.econbiz.de/10012759332
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Effects of Taxes on Economic Behavior
Feldstein, Martin S. - 2010
This paper discusses how the effects of taxes on economic behavior are important for revenue estimation, for calculating efficiency effects, and for understanding short-term macroeconomoic consequences. The primary focus is on taxes on labor income but some attention is given to taxes on income...
Persistent link: https://www.econbiz.de/10012759600
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Voting as a Rational Choice : Why and How People Vote to Improve the Well-Being of Others
Edlin, Aaron S. - 2010
For voters with quot;socialquot; preferences, the expected utility of voting is approximately independent of the size of the electorate, suggesting that rational voter turnouts can be substantial even in large elections. Less important elections are predicted to have lower turnout, but a...
Persistent link: https://www.econbiz.de/10012759742
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Psychology and Economics : Evidence from the Field
DellaVigna, Stefano - 2010
The research in Psychology and Economics (a.k.a. Behavioral Economics) suggests that individuals deviate from the standard model in three respects: (i) non-standard preferences; (ii) non-standard beliefs; and (iii) non-standard decision-making. In this paper, I survey the empirical evidence from...
Persistent link: https://www.econbiz.de/10012759819
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Portfolio Choices with Near Rational Agents : A Solution of Some International-Finance Puzzles
Benigno, Pierpaolo - 2010
prices that are useful to extract information on the degree of near-rationality present in the data …
Persistent link: https://www.econbiz.de/10012760047