کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
5099246 | 1376995 | 2008 | 5 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
'A dynamic new Keynesian life-cycle model: Societal aging, demographics, and monetary policy' by Ippei Fujiwara and Yuki Teranishi. A comment
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موضوعات مرتبط
مهندسی و علوم پایه
ریاضیات
کنترل و بهینه سازی
پیش نمایش صفحه اول مقاله
![عکس صفحه اول مقاله: 'A dynamic new Keynesian life-cycle model: Societal aging, demographics, and monetary policy' by Ippei Fujiwara and Yuki Teranishi. A comment 'A dynamic new Keynesian life-cycle model: Societal aging, demographics, and monetary policy' by Ippei Fujiwara and Yuki Teranishi. A comment](/preview/png/5099246.png)
چکیده انگلیسی
Fujiwara and Teranishi analyze the interaction between population ageing and monetary policy using a New-Keynesian version of Gertler's (1999) model. The central bank faces a tradeoff between welfare of workers and retirees since monetary policy alters this welfare distribution. The model breaks the link between stabilization of inflation and stabilization of output gap. The authors, however, ignore the ongoing decline in fertility, the long-lasting transition to an aged society and, most importantly, the interaction between pension system and monetary policy. These would be essential features in selling the results to policy-makers.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Economic Dynamics and Control - Volume 32, Issue 8, August 2008, Pages 2507-2511
Journal: Journal of Economic Dynamics and Control - Volume 32, Issue 8, August 2008, Pages 2507-2511
نویسندگان
Antti Ripatti,