Zobrazeno 1 - 10
of 10
pro vyhledávání: '"Edmund Crawley"'
Autor:
Andreas Kuchler, Edmund Crawley
Publikováno v:
American Economic Journal: Macroeconomics. 15:314-341
This paper explores the microfoundations of consumption models and quantifies the macro implications of consumption heterogeneity. We propose a new empirical method to estimate the response of consumption to permanent and transitory income shocks for
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::85e5f25d3b0c6a59a721c19fb5f0d998
https://doi.org/10.1257/mac.20200352
https://doi.org/10.1257/mac.20200352
Publikováno v:
Finance and Economics Discussion Series. :1-45
Using a heterogeneous agent model calibrated to match measured spending dynamics over four years following an income shock (Fagereng, Holm, and Natvik (2021)), we assess the effectiveness of three fiscal stimulus policies employed during recent reces
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::7b7bc56ee1ed8f1cf44d078160e9faa9
https://doi.org/10.17016/feds.2023.002
https://doi.org/10.17016/feds.2023.002
Publikováno v:
Finance and Economics Discussion Series. 2022:1-50
The standard model of permanent and transitory income is known to be misspecified. Estimates of income volatility in the model differ depending on the type of data moments used—levels or differences—and how these moments are weighted in the estim
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::0ed9c3a645376400d3067bc3ddb6e72e
https://doi.org/10.17016/feds.2022.026
https://doi.org/10.17016/feds.2022.026
Autor:
Edmund Crawley, William Gamber
Publikováno v:
FEDS Notes. -None
Asset prices and interest rates have changed dramatically and unexpectedly over the last two years as the Federal Reserve has raised its policy rate to combat higher inflation. In this note, we clarify the redistributive effects of these asset price
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::d9a057b8b31309ca7e2ddd58c2cc5c2b
https://doi.org/10.17016/2380-7172.3287
https://doi.org/10.17016/2380-7172.3287
Publikováno v:
FEDS Notes. -None
This note explores the substitutability between policy rate hikes and reductions in the size of the Federal Reserve's balance sheet for the removal of policy accommodation. We do so using a version of the FRB/US model augmented to incorporate the eff
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::c3d03e56d1661f0196542212bf1112da
https://doi.org/10.17016/2380-7172.3147
https://doi.org/10.17016/2380-7172.3147
To predict the effects of the 2020 U.S. CARES Act on consumption, we extend a model that matches responses to past consumption stimulus packages. The extension allows us to account for two novel features of the coronavirus crisis. First, during lockd
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::ea8784a4d0fa5a1400597508e68cc3a1
https://doi.org/10.3386/w27876
https://doi.org/10.3386/w27876
Publikováno v:
Finance and Economics Discussion Series. 2020
To predict the effects of the 2020 U.S. CARES Act on consumption, we extend a model that matches responses of households to past consumption stimulus packages. The extension allows us to account for two novel features of the coronavirus crisis. First
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::9eb3c3608fee90c88898140eaaa2be55
https://doi.org/10.17016/feds.2020.077
https://doi.org/10.17016/feds.2020.077
Autor:
Christopher D. Carroll, Edmund Crawley
Publikováno v:
NBER Macroeconomics Annual. 32:76-92
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::e943d730ca0611e57baff4e9ca2cdf1d
https://doi.org/10.1086/696047
https://doi.org/10.1086/696047
Publikováno v:
SSRN Electronic Journal.
To match aggregate consumption dynamics, macroeconomic models must generate “excess smoothness” in consumption expenditures. But microfounded models are calibrated to match micro data, which exhibit no “excess smoothness.” So standard microfo
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::05179154dd500d369afd13fce5392267
https://doi.org/10.2139/ssrn.3186051
https://doi.org/10.2139/ssrn.3186051