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This paper estimates the impact on the US economy of four types of uncertainty about (i) government spending, (ii) tax changes, (iii) public debt sustainability and (iv) monetary policy. Following a one standard deviation shock, uncertainty about debt sustainability has the largest and most...
Persistent link: https://www.econbiz.de/10010368163
Most analyses of the U.S. Great Moderation have been based on structural VAR methods, and have consistently pointed towards good luck as the main explanation for the greater macroeconomic stability of recent years. Based on an estimated New-Keynesian model in which the only source of change is...
Persistent link: https://www.econbiz.de/10011604912
Persistent link: https://www.econbiz.de/10015210416
Persistent link: https://www.econbiz.de/10003896791
This paper estimates the impact on the US economy of four types of uncertainty about (i) government spending, (ii) tax changes, (iii) public debt sustainability and (iv) monetary policy. Following a one standard deviation shock, uncertainty about debt sustainability has the largest and most...
Persistent link: https://www.econbiz.de/10009790714
Persistent link: https://www.econbiz.de/10010206774
Persistent link: https://www.econbiz.de/10010393814
Most analyses of the U.S. Great Moderation have been based on structural VAR methods, and have consistently pointed towards good luck as the main explanation for the greater macroeconomic stability of recent years. Based on an estimated New-Keynesian model in which the only source of change is...
Persistent link: https://www.econbiz.de/10003747974
Persistent link: https://www.econbiz.de/10011485270
Most analyses of the U.S. Great Moderation have been based on structural VAR methods, and have consistently pointed towards good luck as the main explanation for the greater macroeconomic stability of recent years. Based on an estimated New-Keynesian model in which the only source of change is...
Persistent link: https://www.econbiz.de/10013316598