Results 1 to 10 of about 72,575 (46)
A Behavioral New Keynesian Model
The American Economic Review, 2016 This paper analyzes how bounded rationality affects monetary and fiscal policy via an empirically relevant enrichment of the New Keynesian model.
X. Gabaix
semanticscholar +1 more source
The Dynamic Effects of Personal and Corporate Income Tax Changes in the United States: Comment
The American Economic Review, 2019 Mertens and Ravn (2013) estimate impulse response functions (IRFs) from income tax changes in a structural vector autoregression (SVAR) by using narrative accounts of tax liability changes as proxy variables.
C. Jentsch, Kurt G. Lunsford
semanticscholar +1 more source
Forward Guidance without Common Knowledge
The American Economic Review, 2018 How does the economy respond to news about future policies or future fundamentals? Standard practice assumes that agents have common knowledge of such news and face no uncertainty about how others will respond.
G. Angeletos, C. Lian
semanticscholar +1 more source
The American Economic Review, 2022 We show that the largest increase in unemployment benefits in US history had large spending impacts and small job-finding impacts. This finding has three implications.
Peter Ganong +4 more
semanticscholar +1 more source
Collateral Framework: Liquidity Premia and Multiple Equilibria
Social Science Research Network, 2023 Central banks normally accept debt of their own governments as collateral in liquidity operations without reservations. This gives rise to a valuable liquidity premium that reduces the cost of government finance.
Yvan Lengwiler, Athanasios Orphanides
semanticscholar +1 more source
Geographic Cross-Sectional Fiscal Spending Multipliers: What Have We Learned?
American Economic Journal: Economic Policy, 2017 A geographic cross-sectional fiscal spending multiplier measures the effect of an increase in spending in one region of a monetary union. Empirical studies of such multipliers have proliferated.
Gabriel Chodorow-reich
semanticscholar +1 more source
The American Economic Review, 2011 In this reply to a comment by Jentsch and Lunsford, we show that the evidence for economic and statistically significant macroeconomic effects of tax changes in Mertens and Ravn (2013) remains present for a range of asymptotically valid inference methods.
Karel Mertens, Morten Ravn
semanticscholar +1 more source
Fiscal Policy, Relative Prices, and Net Exports in a Currency Union
American Economic Journal: Macroeconomics, 2023 The hoped-for silver lining of euro-area austerity programs was to raise external competitiveness and improve current accounts. Using product- and industry-level data for 12 countries over the period 1999–2018, we show that reductions in government ...
Luisa Lambertini, C. Proebsting
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CESifo Economic Studies, 2023 We examine the stance of fiscal policy for 32 OECD countries from 1986 to 2023 by comparing for each country-year observation the signs of the output gap and the change in the cyclically adjusted budget balance.
J. de Haan, Bram Gootjes
semanticscholar +1 more source
Social Science Research Network, 2022 In a New Keynesian model with downward nominal wage rigidity (DNWR), we show that government spending is more effective in stimulating output in a low-inflation recession relative to a high-inflation recession. The government spending multiplier is large
Yoon J. Jo, Sarah Zubairy
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