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We build an otherwise-standard business cycle model with housework, calibrated consistently with data on time use, in order to discipline consumption-hours complementarity and relate its strength to the size of fiscal multipliers. We show that if substitutability between home and market goods is...
Persistent link: https://www.econbiz.de/10010885042
The author examines the global impact of U.S. fiscal policy using the Bank of Canada's Global Economy Model (Lalonde … that the expiration of previously enacted tax cuts in the United States will impose short-run costs on the U.S. economy …
Persistent link: https://www.econbiz.de/10005808268