Autor:	Horváth, Roman, Kaszab, Lóránt, Marsal, Ales
Jazyk:	angličtina
Rok vydání:	2019
Předmět:	zero-coupon bond income taxation government debt ddc:330 E44 E13 E62 balanced budget rule nominal term premium E31 E43
Popis:	We estimate a New Keynesian model on post-war US data with generalised method of moments using either constant or time- varying debt and labor income taxes. We show that accounting for government debt and distortionary taxes help the New Keynesian model match the level of the nominal term premium with a lower relative risk-aversion than typically found in the literature.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=od______1687::2adf625948ada19d17c18891674e601c https://hdl.handle.net/10419/224097 Zobrazit plný text záznamu