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Government spending shocks, wealth effects and distortionary taxes
Cloyne, James - London School of Economics (LSE) - 2014
The size and sign of the government spending multiplier crucially depends on how the spending is financed and how consumers respond to implied future tax increases. I investigate this issue in an estimated New Keynesian DSGE model with distortionary labor and capital taxes and, importantly, with...
Persistent link: https://www.econbiz.de/10011126036
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On the international dimension of fiscal policy
Benigno, Gianluca; De Paoli, Bianca - London School of Economics (LSE) - 2009
idiosyncratic shocks. Even when prices are flexible and inflation can costlessly act as a shock absorber to restore fiscal …
Persistent link: https://www.econbiz.de/10010746678
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Menu costs at work : restaurant prices and the introduction of the Euro
Hobijn, Bart (contributor); Ravenna, Federico (contributor);  … - 2004 - [Elektronische Ressource]
realistic parameter values, the model generates a blip in inflation of the same magnitude observed in the data"--Federal Reserve …
Persistent link: https://www.econbiz.de/10002521760
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Consumption and real exchange rates with incomplete markets and non-traded goods
Benigno, Gianluca; Theonissen, Christoph - London School of Economics (LSE) - 2006
This paper addresses the consumption-real exchange rate anomaly. International real business cycle models based on complete financial markets predict a unitary correlation between the real exchange rate and the ratio of home to foreign consumption when subjected to supply side shocks. In the...
Persistent link: https://www.econbiz.de/10010928603
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Reserve accumulation, growth and financial crises
Benigno, Gianluca; Fornaro, Luca - London School of Economics (LSE) - 2012
We present a model that reproduces two salient facts characterizing the international monetary system: i) Faster growing countries are associated with lower net capital inflows and ii) Countries that grow faster accumulate more international reserves and receive more net private inflows. We...
Persistent link: https://www.econbiz.de/10010744942
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Exchange rate regimes and monetary policies in emerging markets: a showdown for few theoretical misconceptions
Malovic, Marko - London School of Economics (LSE) - 2007
Persistent link: https://www.econbiz.de/10010745394
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Optimal monetary responses to oil discoveries
Wills, Samuel - London School of Economics (LSE) - 2014
seen in practice. This is explained by forward-looking inflation. Recession is avoided by a Taylor rule that accommodates …
Persistent link: https://www.econbiz.de/10011126400
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Inflation, inequality and social conflict
Crowe, Christopher - London School of Economics (LSE) - 2004
This paper presents a political economy model of inflation as a result of social conflict. Agents are heterogeneous in … terms of income. Agents’ income levels determine their ability to hedge against the effects of inflation. The interaction of … model makes a number of predictions concerning which environments are conducive to the emergence of inflation. Inflation …
Persistent link: https://www.econbiz.de/10010745045
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THE THATCHER MIRACLE?
LAYARD, R.; NICKELL, S. - London School of Economics (LSE) - 1989
Persistent link: https://www.econbiz.de/10005661293
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Economic overview: Queens and the region
Dudley, William C. - Federal Reserve Bank of New York - 2011
Remarks at Queens Chamber of Commerce and Queens Economic Development Corporation, Flushing, New York City.
Persistent link: https://www.econbiz.de/10010724943