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Post Keynesian stagnation theory argues that slower population growth dampens consumption and investment. A New Keynesian OLG model derives an unemployment equilibrium due to a negative natural rate in a three-generations credit contract framework. Besides deleveraging or rising inequality, also...
Persistent link: https://www.econbiz.de/10011473021
more at the zero lower bound than it does during normal times. Central to this result is a precautionary savings channel …. By stimulating labor demand, hiring subsidies reduce unemployment risk and precautionary savings. This increases the …
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Post Keynesian stagnation theory argues that slower population growth dampens consumption and investment. A New Keynesian OLG model derives an unemployment equilibrium due to a negative natural rate in a three-generations credit contract framework. Besides deleveraging or rising inequality, also...
Persistent link: https://www.econbiz.de/10011575978
Persistent link: https://www.econbiz.de/10011644233
This paper analyzes optimal monetary and fiscal policy in a model where money and savings are essential and asset …
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