Zobrazeno 1 - 9
of 9
pro vyhledávání: '"Paradox of toil"'
Autor:
Olivier Loisel, Behzad Diba
Publikováno v:
Journal of Monetary Economics. 118:230-244
We develop a model of monetary policy with a simple departure from the basic New Keynesian (NK) model. In this model, the central bank sets independently the interest rate on bank reserves and the nominal stock of bank reserves. Because reserves redu
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::a54f199c5502296a0b860e0d783a0882
https://doi.org/10.1016/j.jmoneco.2020.10.002
https://doi.org/10.1016/j.jmoneco.2020.10.002
Publikováno v:
Economic Modelling. 93:321-353
We develop a novel medium-scale DSGE model, called NORA, for fiscal policy analysis in Norway. NORA contains a sheltered and exposed sector allowing us to model wage bargaining between a labor union and the exposed sector, reflecting Scandinavian wag
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::053b3243a2d1477d6521ad7b401d6b2f
https://doi.org/10.1016/j.econmod.2020.07.017
https://doi.org/10.1016/j.econmod.2020.07.017
Akademický článek
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Autor:
Sanjay R. Singh, Gauti B. Eggertsson
Publikováno v:
Journal of Economic Dynamics and Control. 105:21-43
How accurate is a log-linear approximation of the New Keynesian model when the nominal interest rate is bounded by zero? This paper compares the solution of the exact non-linear model to the log-linear approximation. It finds that the difference is m
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::929a4b86f6df2c2793f978221b0b458b
https://doi.org/10.1016/j.jedc.2018.09.011
https://doi.org/10.1016/j.jedc.2018.09.011
Autor:
Vaishali Garga, Gauti B. Eggertsson
Publikováno v:
Review of Economic Dynamics. 31:363-392
This paper shows that under a strict inflation targeting regime, the government spending multiplier at the zero lower bound (ZLB) is larger under sticky information than under sticky prices. Similarly, well known paradoxes, e.g., the paradox of toil
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::c1f726d4917edaad247c4071bec99b20
https://doi.org/10.1016/j.red.2018.09.003
https://doi.org/10.1016/j.red.2018.09.003
Akademický článek
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Akademický článek
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Autor:
Casey B. Mulligan
Factor supply increases (depresses) output for many of the same reasons that the government spending multiplier might be less (greater) than one. Data from three 2008-9 recession episodes—the labor supply shifts associated with the seasonal cycle,
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::1cd5aa2c728893c287cf4ab11f607f8a
https://doi.org/10.3386/w15800
https://doi.org/10.3386/w15800
Autor:
Gauti B. Eggertsson
Publikováno v:
SSRN Electronic Journal.
This paper proposes a new paradox: the paradox of toil. Suppose everyone wakes up one day and decides they want to work more. What happens to aggregate employment? This paper shows that, under certain conditions, aggregate employment falls; that is,
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::446cf7f236ba5b82f2f1c8ee5bd817d0
https://doi.org/10.2139/ssrn.1561766
https://doi.org/10.2139/ssrn.1561766