change in US saving is absorbed by increased domestic investment (contrary to Feldstein & Horioka). Almost half of the fiscal … deficits and increases in investment in other countries in the world. We cannot reject that the shock is uniformly transmitted …

This paper develops and analyzes a general-equilibrium model with sticky information. The only rigidity in goods, labor …, wages, and consumption. After presenting the ingredients of such a model, the paper develops an algorithm to solve this …

mechanism is studied further in a partial-equilibrium life-cycle model of consumption, saving, and labor-supply decisions. The …We decompose the response of aggregate consumption to monetary policy shocks into contributions by households at … different stages of the life cycle. This decomposition finds that older households have a higher consumption response than …

increases in government spending have a strong negative effect on investment spending …

persistent increase in government purchases and tax rates on capital and labor income, and a persistent rise in aggregate hours … worked as well as declines in real wages. The shocks are also associated with short lived rises in aggregate investment and … small movements in private consumption. We describe and implement a methodology for assessing whether standard neoclassical …