Horvath, Michal - Centre for Dynamic Macroeconomic Analysis, University … - 2008
Keynesian setting augmented for the presence of liquidityconstrained agents and non-separable preferences. Our results provide … agents and non-separable preferences. Our results provide
little evidence in support of a crowding-in effect under … and
Fiscal Policy, Non-Separable Preferences, Non-Ricardian Agents.
1. Introduction
We model an economy in which both …