Results 1 to 10 of about 81,894 (47)

A Behavioral New Keynesian Model

The American Economic Review, 2020
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

Corruption Around the World: Causes, Consequences, Scope, and Cures

Social Science Research Network, 1998
Corruption is attracting a lot of attention around the world. This paper surveys and discusses issues related to the causes, consequences, and scope of corruption, and possible corrective actions.
V. Tanzi
semanticscholar   +1 more source

Fiscal Rules and the Sovereign Default Premium

Social Science Research Network, 2022
We study fiscal rules using a sovereign default model. A debt-brake (spread-brake) rule imposes a ceiling on the fiscal deficit when the sovereign debt (spread) is above a threshold.
L. Martinez, Francisco Roch, J. Hatchondo   +2 more
semanticscholar   +1 more source

Geographic Cross-Sectional Fiscal Spending Multipliers: What Have We Learned?

American Economic Journal: Economic Policy, 2019
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

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, Chen Lian
semanticscholar   +1 more source

Does economic complexity reduce the probability of a fiscal crisis?

World Development, 2023
Higher economic complexity of a country reduces the probability of suffering a fiscal crisis between 46% and 57%. Along with institutional factors, complexity is shown to be sufficient to describe the risk of facing episodes of fiscal distress.
Jose E. Gomez-Gonzalez, Jorge M. Uribe, O. Valencia   +2 more
semanticscholar   +1 more source

Shocks, Frictions, and Inequality in US Business Cycles

Social Science Research Network
We show how a heterogeneous agent New Keynesian (HANK) model with incomplete markets and portfolio choice can be estimated in state space using a Bayesian approach.
Christian Bayer, Benjamin Born, R. Luetticke   +2 more
semanticscholar   +1 more source

Spending and Job-Finding Impacts of Expanded Unemployment Benefits: Evidence from Administrative Micro Data

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.
P. Ganong, Fiona Greig, P. Noel, D. Sullivan, Joseph Vavra   +4 more
semanticscholar   +1 more source

Learning by Necessity: Government Demand, Capacity Constraints, and Productivity Growth

The American Economic Review
This paper studies how firms adapt to demand shocks when facing capacity constraints. I show that increases in government purchases raise total factor productivity in quantity units at the production line level.
Ethan Ilzetzki
semanticscholar   +1 more source

State Dependent Government Spending Multipliers: Downward Nominal Wage Rigidity and Sources of Business Cycle Fluctuations

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
semanticscholar   +1 more source