Zobrazeno 1 - 10
of 34
pro vyhledávání: '"Ludwig Straub"'
Publikováno v:
AEA Papers and Proceedings. 113:70-75
We provide a simple framework connecting the distribution of excess savings across households to the dynamics of aggregate demand. Deficit-financed fiscal transfers generate excess savings. The poorest households with the highest marginal propensitie
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:
The Quarterly Journal of Economics. 136:2243-2307
We propose a theory of indebted demand, capturing the idea that large debt burdens lower aggregate demand, and thus the natural rate of interest. At the core of the theory is the simple yet underappreciated observation that borrowers and savers diffe
Publikováno v:
Econometrica. 89:2375-2408
We propose a general and highly efficient method for solving and estimating general equilibrium heterogeneous‐agent models with aggregate shocks in discrete time. Our approach relies on the rapid computation ofsequence‐space Jacobians—the deriv
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:
SSRN Electronic Journal.
Publikováno v:
SSRN Electronic Journal.