Results 21 to 30 of about 2,336 (200)
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
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
, 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
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The EU's Strategy for Sustainability: A Landmark Turn With the European Green Deal?
European Policy Analysis, EarlyView.ABSTRACT While the European Green Deal (EGD) has been widely recognized as a milestone in the EU's sustainability strategy, scholars disagree on the nature of the policy change it represents. Critics highlight its limited social and environmental ambitions, despite its portrayal as a “man on the moon” moment.
Ekaterina Domorenok, Franco Gatti
wiley +1 more source
Do Internet‐Driven Trade Shocks Moderate the Exchange Rate Pass‐Through to Inflation?
International Journal of Finance &Economics, EarlyView.ABSTRACT This study examines the existence of an internet globalisation intensifying impact on the size of the exchange rate pass‐through (ERPT) to inflation, which conditions the response of central banks' policy rates. Expanding on the traditional determinants of ERPT, we incorporate technology‐induced trade shocks linked to internet adoption to ...
Joanna Darwiche, Nicole Ballouz Baker
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
Labor Market Institutions, Fiscal Multipliers, and Macroeconomic Volatility
Journal of Applied Econometrics, EarlyView.ABSTRACT How do labor market institutions shape the transmission of government spending shocks and macroeconomic volatility? We develop a theoretical model in which labor market institutions affect fiscal transmission through their effect on wage rigidity, job separation, and matching frictions.
Maximilian Boeck +2 more
wiley +1 more source
Critique of IS-LM: Fiscal Deficits, Loanable Funds, Keynesian Cross and IS-LM [PDF]
SSRN Electronic Journal, 2014 This paper intends to discuss some problematic properties IS-LM and loanable funds together have when dealing with fiscal deficits. Many others have focused on its assumptions for criticism of IS-LM, but I will mainly focus on its fundamental modelling nature.
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Sustainable Development, EarlyView.ABSTRACT This study pursues a dual objective. First, it investigates the unconditional impact of anti‐globalization on structural transformation in Africa. Second, it explores how environmental degradation interacts with anti‐globalization to influence structural transformation. The analysis focuses on 52 African countries over the period 2005–2023. To
Simplice A. Asongu, Ekene ThankGod Emeka
wiley +1 more source