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risk of inflation faced by the US economy. …
Persistent link: https://www.econbiz.de/10010822925
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
What can economists learn from dynamic partial control of chemical reactors? Both chemical reactors and the economy … and enabling policy makers to better control the economy is in line with the contributions of Sargent and Sims, who use a …
Persistent link: https://www.econbiz.de/10010539672
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
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