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Inequality, Fiscal Policy and COVID19 Restrictions in a Demand-Determined Economy

Auerbach, Alan J. - 2020

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 … restrictions themselves when rigid capital costs induce firm exit. Higher inequality is associated with larger restriction …

Persistent link: https://www.econbiz.de/10012481561

Inequality, Business Cycles, and Monetary-Fiscal Policy

Bhandari, Anmol - 2018

We study optimal monetary and fiscal policy in a model with heterogeneous agents, incomplete markets, and nominal rigidities. We develop numerical techniques to approximate Ramsey plans and apply them to a calibrated economy to compute optimal responses of nominal interest rates and labor tax...

Persistent link: https://www.econbiz.de/10012453010

How Effective Have Fiscal Policies Been in Changing the Distribution of Income and Wealth?

King, Mervyn A. - 1980

shall divide the issue into two questions. How effective has fiscal policy been in reducing inequality? Mow big are the …

Persistent link: https://www.econbiz.de/10012478675

Fiscal Multipliers : A Heterogenous-Agent Perspective

Broer, Tobias; Krusell, Per; Öberg, Erik - National Bureau of Economic Research - 2021

We use an analytically tractable heterogeneous-agent (HANK) version of the standard New Keynesian model to show how the size of fiscal multipliers depends on i) the distribution of factor incomes, and ii) the source of nominal rigidities. With sticky prices but flexible wages, the standard...

Persistent link: https://www.econbiz.de/10012482584

Rationalizability for social environments

Herings, Peter Jean-Jacques (contributor); … - 2001 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10001700062

Could homo œconomicus become a revolutionary ? : On the need to teach and practice a different economics

Arnsperger, Christian (contributor); … - 2002 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10001716854

Risky Behavior Among Youths : An Economic Analysis

Gruber, Jonathan - 2000

There are a host of potentially risky behaviors in which youth engage, which have important implications for both their well being as youth and their life prospects. The past decade has seen dramatic shifts in the intensity with which youths pursue these risky activities: for example, youth...

Persistent link: https://www.econbiz.de/10012470969

Are Market Forecasts Rational?

Mishkin, Frederic S. - 1980

This paper conducts tests of the rationality of both inflation and short-term interest rate forecasts in the bond … market. These tests are developed with the theory of efficient markets and make use of security price data to infer …

Persistent link: https://www.econbiz.de/10012478629

A Note on Stochastic Rationing Mechanisms

Ito, Takatoshi - 1979

There are a couple of well-known unsatisfactory properties in the notion of effective demand defined by Benassy and one by Dreze. This is why recent authors in disequilibrium analysis study the stochastic rationing mechanism. Douglas Gale proved the existence of the equilibrium with stochastic...

Persistent link: https://www.econbiz.de/10012478836

Rational Attention Allocation Over the Business Cycle

Kacperczyk, Marcin - 2009

The question of whether and how mutual fund managers provide valuable services for their clients motivates one of the largest literatures in finance. One candidate explanation is that funds process information about future asset values and use that information to invest in high-valued assets....

Persistent link: https://www.econbiz.de/10012463199

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