Results 41 to 50 of about 505 (157)

When in Doubt, Tax More Progressively? Uncertainty and Progressive Income Taxation

International Economic Review, EarlyView.
ABSTRACT We study the optimal income tax problem under parameter uncertainty about household preferences and wage dynamics. We derive conditions characterizing how such uncertainty affects optimal tax policy. To quantify the effect, we estimate a life‐cycle model using US data and a Bayesian approach.
Minsu Chang, Chunzan Wu
wiley   +1 more source

How Does Progressivity Affect the Tax Cut Multiplier?

International Economic Review, EarlyView.
ABSTRACT How does the targeting of personal income tax cuts affect the output multiplier? This paper provides quantitative evidence using a heterogeneous‐agent New‐Keynesian model calibrated to match US distributions of income, wealth, marginal tax rates, and marginal propensities to consume.
Christian Gillitzer
wiley   +1 more source

Entrepreneurship and Financial Deregulation

International Economic Review, EarlyView.
ABSTRACT We quantitatively analyze the impact of US banking deregulation in the 1980s on the aggregate economy. Using recent econometric techniques, we first reexamine existing empirical evidence on the real effects of banking deregulation. We then construct a quantitative model that integrates imperfectly competitive banks into a general equilibrium ...
Toshihiko Mukoyama, Gang Zhang
wiley   +1 more source

The Fatalist–Voluntarist Tension: On the Subjective Foundations of Authoritarian Nationalist Neoliberalism

Constellations, EarlyView.
Mirela Ivanova
wiley   +1 more source

Financial Fragility and the Fiscal Multiplier

Journal of Money, Credit and Banking, EarlyView.
Abstract We show that undercapitalized banks with large holdings of government bonds subject to sovereign default risk lead to a new crowding‐out channel: deficit‐financed fiscal stimuli lead to higher bond yields, triggering capital losses for the banks. Banks then cut back loans, which reduces fiscal multipliers.
CHRISTIAAN VAN DER KWAAK, SWEDER VAN WIJNBERGEN   +1 more
wiley   +1 more source

Keynesian Theory in "Macroeconomics" Course for non-core faculties

Vestnik MGIMO-Universiteta, 2016
The article deals with the issues related to the teaching of Keynesian theory within the scope of macroeconomics course at the faculties of non-economic professions.
Tatyana Ivanovna Kurnosova, Iskra Evseevna Rudakova   +1 more
doaj   +2 more sources

Monetary Policy When Preferences Are Quasi‐Hyperbolic

Journal of Money, Credit and Banking, EarlyView.
Abstract We study discretionary monetary policy in an economy where economic agents have quasi‐hyperbolic discounting. We demonstrate that a benevolent central bank is able to keep inflation under control for a wide range of discount factors. If the central bank, however, does not adopt the household's time preferences and tries to discourage early ...
RICHARD DENNIS, OLEG KIRSANOV
wiley   +1 more source

Monetary and Macroprudential Policies under Dollar‐Denominated Foreign Debt

Journal of Money, Credit and Banking, EarlyView.
Abstract This paper studies monetary and macroprudential policies in a small open economy that borrows from abroad in foreign currency. The model features a novel mechanism in which exchange rate depreciation triggered by a borrowing constraint is amplified through balance of payments adjustments, increasing the real burden of foreign debt and causing ...
HIDEHIKO MATSUMOTO
wiley   +1 more source

Policy Biases in a Model with Labor‐Market Frictions

Journal of Money, Credit and Banking, EarlyView.
Abstract We develop a model with labor‐market matching frictions that is subject to a range of shocks, including shocks to matching efficiency and bargaining power, and use the model to examine how monetary policy should respond to such shocks. We show that optimal monetary policy responds effectively to these shocks, producing economic outcomes that ...
RICHARD DENNIS, TATIANA KIRSANOVA
wiley   +1 more source

The Landless Rural Workers Movement (MST) and New Agrarian Questions in Brazil

Journal of Agrarian Change, EarlyView.
ABSTRACT The Landless Rural Workers Movement of Brazil (MST) primarily organized occupations of large‐scale farms, forcing the redistribution of land for creation of agrarian reform settlements. In the past 20 years, however, land occupations and the establishment of new agrarian reform settlements have consistently declined, while the MST shifted ...
Estevan Coca, Gustavo de L. T. Oliveira
wiley   +1 more source