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Akademický článek
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Autor:
Fabrizio Perri
Publikováno v:
Journal of Monetary Economics. 55:43-47
Publikováno v:
American Economic Review. 112:1437-1474
Motivated by the effects of the COVID-19 pandemic, we present a theory of Keynesian supply shocks: shocks that reduce potential output in a sector of the economy, but that, by reducing demand in other sectors, ultimately push aggregate activity below
Publikováno v:
American Economic Review: Insights. 3:487-502
We study targeted lockdowns in a multigroup SIR model where infection, hospitalization, and fatality rates vary between groups—in particular between the “young,” the “middle-aged,” and the “old.” Our model enables a tractable quantitati
Autor:
Arnaud Costinot, Iván Werning
Publikováno v:
The Review of Economic Studies.
Technological change, from the advent of robots to expanded trade opportunities, creates winners and losers. How should government policy respond? We provide a general theory of optimal technology regulation in a second-best world, with rich heteroge
Autor:
Ludwig Straub, Iván Werning
Publikováno v:
American Economic Review. 110:86-119
According to the Chamley-Judd result, capital should not be taxed in the long run. In this paper, we overturn this conclusion, showing that it does not follow from the very models used to derive it. For the main model in Judd (1985), we prove that th
Publikováno v:
Econometrica. 88:2739-2776
The empirical observation that “large firms tend to export, whereas small firms do not” has transformed the way economists think about the determinants of international trade. Yet, it has had surprisingly little impact about how economists think