Zobrazeno 1 - 10
of 83
pro vyhledávání: '"Iván Werning"'
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
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::8043b9290565b86d82782c2ae67dde08
https://doi.org/10.1257/aer.20201063
https://doi.org/10.1257/aer.20201063
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
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::2b2dcf9caef6c8ce1f44aadb53b40fa2
https://doi.org/10.1257/aeri.20200590
https://doi.org/10.1257/aeri.20200590
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
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::b862d903b116ba84033c2a89480a10c2
https://doi.org/10.1093/restud/rdac076
https://doi.org/10.1093/restud/rdac076
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
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::649e328c6766b69579401ea45e44aa08
https://doi.org/10.1257/aer.20150210
https://doi.org/10.1257/aer.20150210
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
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::c02663680025686bdadfe515bb1ffd29
https://doi.org/10.3982/ecta14763
https://doi.org/10.3982/ecta14763
Autor:
Emmanuel Farhi, Iván Werning
Publikováno v:
American Economic Review. 109:3887-3928
This paper extends the benchmark New-Keynesian model by introducing two frictions: (i) agent heterogeneity with incomplete markets, uninsurable idiosyncratic risk, and occasionally-binding borrowing constraints; and (ii) bounded rationality in the fo
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::9197aca2fa45b2ca54335495a715e7c2
https://doi.org/10.1257/aer.20171400
https://doi.org/10.1257/aer.20171400
Autor:
Guido Lorenzoni, Iván Werning
Publikováno v:
American Economic Review. 109:3229-3263
What circumstances or policies leave sovereign borrowers at the mercy of self-fulfilling increases in interest rates? To answer this question, we study the dynamics of debt and interest rates in a model where default is driven by insolvency. Fiscal d
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::a050c6ab30516a67d17a3125a4b22fd8
https://doi.org/10.1257/aer.20141766
https://doi.org/10.1257/aer.20141766