Similar Search Results

Liquidity Traps and Expectation Dynamics: Fiscal Stimulus or Fiscal Austerity?

Benhabib, Jess; Evans, George W.; Honkapohja, Seppo - Centre for Dynamic Macroeconomic Analysis, University … - 2014

bound, a temporary fiscal stimulus, or in some cases a policy of fiscal austerity, will insulate the economy from deflation …

Persistent link: https://www.econbiz.de/10010904151

Monetary and Fiscal Policy under Deep Habits

Leith, Campbell; Moldovan, Ioana; Rossi, Raffaele - Centre for Dynamic Macroeconomic Analysis, University … - 2009

to optimal monetary policy. We explore this consensus assignment in an economy subject to ‘deep’ habits at the level of … economy subject to the additional externality of deep habits and explore the ability of simple (but potentially non …

Persistent link: https://www.econbiz.de/10008527082

Dormant Shocks and Fiscal Virtue

Bianchi, Francesco; Melosi, Leonardo - Department of Economics, University of Pennsylvania - 2013

risk of inflation faced by the US economy. …

Persistent link: https://www.econbiz.de/10010822925

Fiscal Volatility Shocks and Economic Activity

Fernandez-Villaverde, Jesus; Guerron-Quintana, Pablo; … - Department of Economics, University of Pennsylvania - 2011

calibrated to the U.S. economy. We find that fiscal volatility shocks have an adverse effect on economic activity that is …

Persistent link: https://www.econbiz.de/10009188958

Anticipation, Learning and Welfare: the Case of Distortionary Taxation

Gasteiger, Emanuel; Zhang, Shoujian - Centre for Dynamic Macroeconomic Analysis, University … - 2013

We study the impact of anticipated fiscal policy changes in a Ramsey economy where agents form long …

Persistent link: https://www.econbiz.de/10010904148

Optimal Fiscal Feedback on Debt in an Economy with Nominal Rigidities

Kirsanova, Tatiana; Wren-Lewis, Simon - Centre for Dynamic Macroeconomic Analysis, University … - 2006

We examine the impact of different degrees of fiscal feedback on debt in an economy with nominal rigidities where …

Persistent link: https://www.econbiz.de/10005807991

How Does Tax Progressivity and Household Heterogeneity Affect Laffer Curves?

Holter, Hans A.; Krueger, Dirk; Stepanchuk, Serhiy - Department of Economics, University of Pennsylvania - 2014

The recent public debt crisis in most developed economies implies an urgent need for increasing tax revenues or cutting government spending. In this paper we study the importance of household heterogeneity and the progressivity of the labor income tax schedule for the ability of the government...

Persistent link: https://www.econbiz.de/10010822922

How Does Tax Progressivity and Household Heterogeneity Affect Laffer Curves?

Holter, Hans A.; Krueger, Dirk; Stepanchuk, Serhiy - Department of Economics, University of Pennsylvania - 2014

also show that, relative to a representative agent economy tax revenues are less sensitive to the progressivity of the tax … code in our economy. This finding is due to the fact that labor supply of two earner households is less elastic (along the …

Persistent link: https://www.econbiz.de/10011071751