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That of the multiplier is a largely debated issue. Several studies propose estimates for it. This paper answers the … question of how inequality affects the value of the multiplier. The proposed formulation is analytically derived from the … Lorenz curve of income by means of Zanardi asymmetry index. Since the relationship between inequality and multiplier is found …
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A two-period model of temporary equilibrium with rationing is presented, paying particular attention to agents' expectations of future constraints. it is shown that with arbitrary constraint expectations many different types of current equilibria may be consistent with the same set of (current...
Persistent link: https://www.econbiz.de/10013219731
Much of the new theory of macro-economics that has been built upon micro-economic models of imperfect information leads …
Persistent link: https://www.econbiz.de/10013226085
Much of the new theory of macro-economics that has been built upon micro-economic models of imperfect information leads …
Persistent link: https://www.econbiz.de/10012476909
A two-period model of temporary equilibrium with rationing is presented, paying particular attention to agents' expectations of future constraints. it is shown that with arbitrary constraint expectations many different types of current equilibria may be consistent with the same set of (current...
Persistent link: https://www.econbiz.de/10012478772