Showing 1 - 10 of 14
study the effects of fiscal stimulus. Our small-open-economy empirical setting permits us to estimate key macroeconomic …
Persistent link: https://www.econbiz.de/10012480310
A key issue in current research and policy is the size of fiscal multipliers when the economy is in recession. We …
Persistent link: https://www.econbiz.de/10012462346
recent efforts to stimulate the economy, reaching two main conclusions. First, policy interventions have increased in this …
Persistent link: https://www.econbiz.de/10012463242
This paper explores optimal fiscal policy in an overlapping-generations general-equilibrium model under uncertainty and the impact on optimal policy of the introduction of a type of policy stickiness intended to account for the stylized fact that major reforms happen infrequently. In general,...
Persistent link: https://www.econbiz.de/10012471764
geographical variation in U.S. federal government contracts, we document that, in a local economy, interest rates on consumer loans …
Persistent link: https://www.econbiz.de/10012479179
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 demand-side fiscal stimulus. COVID restrictions can...
Persistent link: https://www.econbiz.de/10012481561
We construct a computational dynamic stochastic overlapping generations general equilibrium model with uncertain lifetimes and explore the impact of policy stickiness (specifically, a major reform will preclude future reforms for a generation) on optimal long-run fiscal policy. Under such...
Persistent link: https://www.econbiz.de/10012469579
This paper considers the magnitude of the U.S. fiscal imbalance, as measured by the permanent changes needed to stabilize the national debt as a share of GDP. At present, even after recent improvements in forecast deficits, this imbalance stands at 5.3 percent of GDP -- several times the...
Persistent link: https://www.econbiz.de/10012472691
This paper presents a set of generational accounts (GAS) that can be used to assess the fiscal burden current generations are placing on future generations. The GAS indicate the net present value amount that current and future generations are projected to pay to the government now and in the...
Persistent link: https://www.econbiz.de/10012475431
This paper focuses on U.S. saving, demographics, and fiscal policy. We use data from the Consumer Expenditure Surveys of the 1980s to consider the effect of demographic change on past and future U.S. saving rates. Our findings indicate that demographic change may significantly alter the U.S....
Persistent link: https://www.econbiz.de/10012475893