Results 21 to 30 of about 4,076,104 (202)
The Intertemporal Keynesian Cross
, 2018 We demonstrate the importance of intertemporal marginal propensities to consume (iMPCs) in disciplining general equilibrium models with heterogeneous agents and nominal rigidities. In a benchmark case, the dynamic response of output to a change in the path of government spending or taxes is given by an equation involving iMPCs, which we call the ...
Adrien Auclert +2 more
openaire +1 more source
, 2023 We study monetary policy transmission across space. Empirically, we show that two channels explain a sizable portion of the variation in the regional effects of identified U.S. monetary policy shocks: local marginal propensities to consume (MPCs), as captured by household wealth, and industry composition, as measured by the local share of non-tradable ...
Bellifemine, M, Couturier, A, Jamilov, R
openaire +1 more source
Transmission mechanisms in HANK: An application to Chile
Latin American Journal of Central BankingHouseholds in emerging economies are subject to significant income risk and have low access to financial markets. Leveraging multiple administrative microdata sources, this paper documents significant heterogeneity in asset holdings, income, and income ...
Benjamín García +3 more
doaj +1 more source
The Effects of Monetary Policy in the United Kingdom: New Evidence From SONIA Market Responses
International Journal of Finance &Economics, EarlyView.ABSTRACT This paper constructs a new measure of the UK monetary policy instrument (MPI) using daily changes in the sterling overnight index average (SONIA) around Bank of England policy events from June 1997 to August 2025. The instrument explicitly accounts for pre‐event information and unconventional monetary policy (UMP) using lagged macro‐financial
Ayobami E. Ilori, Lucia M. Murgia
wiley +1 more source
Latin America and COVID-19: Shutting Down in a World of Informal and Tiny Firms
EconomíaEmployment losses in 2020 were larger in Latin America than in any other region. We show that the prevalence of informality, micro-entrepreneurship, and jobs-not-fit for remote work in nonessential sectors accounts for this outcome in both simulations ...
Laura Alfaro +2 more
doaj +1 more source
International Studies of Economics, EarlyView.ABSTRACT South Africa's macroeconomic environment continues to be shaped by persistent structural imbalances, including high unemployment, inflationary pressures, and exchange rate fluctuations, all of which have important implications for the country's long‐term economic performance.
Thakhani Tshibalanganda +1 more
wiley +1 more source
Sustainable Development, EarlyView.ABSTRACT Currently, the United States (U.S.) has issues with declining industrial values and supply chain digitalization, which threaten the country's industrialization and Industry 4.0 transformation. The country needs to reverse this trend through effective policy implementation. However, the literature's understanding of effective policies' long‐run
Mohammad Fakhrul Islam +4 more
wiley +1 more source
Spatial Dynamics of Tourism Sustainability in EU Member States
Sustainable Development, EarlyView.ABSTRACT This study introduces a synthetic indicator of tourism sustainability for the EU, bridging the gap between institutional monitoring and academic research. By applying the PROMETHEE II method to rank the 27 Member States in 2019 and 2023, the research transforms static data into a dynamic roadmap of post‐pandemic recovery. The findings reveal a
M. Rosario González‐Rodríguez +1 more
wiley +1 more source
How Important Are Sectoral Shocks in Australia?
Australian Economic Review, EarlyView.ABSTRACT We examine the role of sectoral shocks in driving aggregate fluctuations for the Australian economy between 1994 and 2023, comparing the pre‐COVID and COVID periods. Using both statistical and structural factor models for disaggregated industrial production, we find that sectoral shocks accounted for a substantial portion of aggregate ...
Longye Tian, James Morley
wiley +1 more source