کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5067295 1372583 2009 15 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
The effects of government spending shocks on consumption under optimal stabilization
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
The effects of government spending shocks on consumption under optimal stabilization
چکیده انگلیسی

Economic theory has yet to come up with a general guidance regarding the dynamic effects and welfare implications of shocks to public spending. With the aim to provide a theoretical benchmark, we analyse if a rise in private consumption following an exogenous rise in government spending is a feature of the economy under optimal stabilization in a standard New Keynesian setting augmented for the presence of liquidity-constrained agents and non-separable preferences. Our results provide little evidence in support of a crowding-in effect under 'timelessly optimal' policy.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: European Economic Review - Volume 53, Issue 7, October 2009, Pages 815-829
نویسندگان
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