Add to ORKGRecent evidence suggests that consumption rises in response to an increase in government spending. That finding cannot be easily reconciled with existing optimizing business cycle models. We extend the standard new Keynesian model to allow for the presence of rule-of-thumb consumers. We show how the interaction of the latter with sticky prices and deficit financing can account for the existing evidence on the effects of government spending. (JEL: E32, E62) 1
Two-stage budgeting as an economic decision-making process for consumers is illustrated by its appli...
This paper studies two frictions, good-specific habit formation and price rigidities, used in theore...
Standard New Keynesian models cannot generate the widely observed result that private consumption is...
Recent evidence suggests that consumption rises in response to an increase in government spending. T...
Recent evidence suggests that consumption rises in response to an increase in government spending. T...
Empirical evidence shows that government spending crowds in private consumption, a keynesian phenome...
This paper assesses the transmission of fiscal policy shocks in a New Keynesian framework where gove...
Recent research has stressed the inconsistency between empirical evidence and the theoretical predic...
This paper assesses the transmission of fiscal policy shocks in a New Keynesian framework where gove...
Standard New Keynesian models cannot generate the widely observed result that private consumption is...
iv Abstract This thesis investigates the effects of government spend- ing on aggregate economic vari...
iv Abstract This thesis investigates the effects of government spend- ing on aggregate economic vari...
This paper analyzes a New Keynesian model with Rule-of-Thumb consumers (ROTC) as in Galí et al.(2007...
Artículo de publicación ISIWe use a new narrative measure of fiscal shocks to study how private cons...
We propose and solve an optimizing model which explains counterintuitive effects of fiscal policy in...
Two-stage budgeting as an economic decision-making process for consumers is illustrated by its appli...
This paper studies two frictions, good-specific habit formation and price rigidities, used in theore...
Standard New Keynesian models cannot generate the widely observed result that private consumption is...
Recent evidence suggests that consumption rises in response to an increase in government spending. T...
Recent evidence suggests that consumption rises in response to an increase in government spending. T...
Empirical evidence shows that government spending crowds in private consumption, a keynesian phenome...
This paper assesses the transmission of fiscal policy shocks in a New Keynesian framework where gove...
Recent research has stressed the inconsistency between empirical evidence and the theoretical predic...
This paper assesses the transmission of fiscal policy shocks in a New Keynesian framework where gove...
Standard New Keynesian models cannot generate the widely observed result that private consumption is...
iv Abstract This thesis investigates the effects of government spend- ing on aggregate economic vari...
iv Abstract This thesis investigates the effects of government spend- ing on aggregate economic vari...
This paper analyzes a New Keynesian model with Rule-of-Thumb consumers (ROTC) as in Galí et al.(2007...
Artículo de publicación ISIWe use a new narrative measure of fiscal shocks to study how private cons...
We propose and solve an optimizing model which explains counterintuitive effects of fiscal policy in...
Two-stage budgeting as an economic decision-making process for consumers is illustrated by its appli...
This paper studies two frictions, good-specific habit formation and price rigidities, used in theore...
Standard New Keynesian models cannot generate the widely observed result that private consumption is...