Results 71 to 80 of about 13,464 (272)
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
The New Keynesian Phillips Curve: Some Counterfactual Evidence [PDF]
New Keynesian models of the business cycle have become the new paradigm of monetary economics, often used for policy analysis. This paper shows that this class of models fail in one crucial respect: they imply a strong negative contemporaneous ...
Juan Paez-Farrell
core
Identifying the New Keynesian Phillips Curve [PDF]
Phillips curves are central to discussions of inflation dynamics and monetary policy. New Keynesian Phillips curves describe how past inflation, expected future inflation, and a measure of real marginal cost or an output gap drive the current inflation ...
Gregor W. Smith, James M. Nason
core +2 more sources
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
New-Consensus Macroeconomic Governance in a Keynesian world, and the Keynesian alternative [PDF]
The paper presents both the New Consensus and Keynesian equilibrium within the usual fourcompetitive macro-markets structure. It gives theoretical explanations of the perniciouseffects that the NCM governance, which has been designed for ergodic ...
Angel Asensio
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Inflation targeting and macroeconomic stability in a Post Keynesian economy
, 2008 This paper examines the compatibility of inflation targeting with an economy that is Post Keynesian in character. We show that in a Post Keynesian environment, policymakers can both set and achieve an inflation target without adverse consequences for the
LIMA, Gilberto Tadeu, SETTERFIELD, Mark
core +1 more source
The New Consensus from a Traditional Keynesian and Post-Keynesian Perspective [PDF]
This paper examines in how far the DSGE model which is often dubbed the New Keynesian Consensus is compatibel with a Post-Keynesian or traditional Keynesian understanding of the economy.
Sebastian Dullien
core
Vicarelli's Keynes and the New-Keynesian analytical method
, 2018 This article provides a critical review of the foundations of the new Keynesian apparatus, to evaluate the actual strength of the Keynesian inheritance.
Massimiliano Tancioni
core +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 +1 more
wiley +1 more source
Environmental economics and policy
, 2013 Post-Keynesian environmental economics provides a realistic view of the impact of different environmental policy instruments in modern capitalist economies and, in turn, guides the design of policy aimed at improving environmental conditions and reducing
Perry, Neil (R16645)
core