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The recent crisis in the United States has often been associated with substantial amounts of policy uncertainty. In this paper we ask how uncertainty about fiscal policy affects the impact of fiscal policy changes on the economy when the government tries to counteract a deep recession. The...
Persistent link: https://www.econbiz.de/10010957088
In this paper we estimate a simple New-Keynesian DSGE model with German data for the sample period 1970:q1 to 1998:q4 …
Persistent link: https://www.econbiz.de/10005083222
In a New Keynesian DSGE model with non-Ricardian consumers, we show that automatic stabilization according to a …
Persistent link: https://www.econbiz.de/10005059028