G2TT
来源类型Discussion paper
规范类型论文
来源IDDP1153
DP1153 Measuring Core Inflation
Danny Quah
发表日期1995-03-31
出版年1995
语种英语
摘要The paper analyses, along the transition path and in steady state, the optimal stabilization policy in an economy in which growth is driven by learning by doing. If future benefits of learning by doing are not fully internalized by workers the optimal fiscal policy is to tax labour during expansions so as to be able to subsidize it during recessions. The long-term impact on output and on human capital of such a policy depends critically on initial conditions: if stabilization is initiated during an expansion its effect on long-term production is positive. The long-term effect is negative when stabilization is initiated during a recession.
主题International Macroeconomics
关键词Cycles Growth Learning by doing Stabilization policy
URLhttps://cepr.org/publications/dp1153
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/530295
推荐引用方式
GB/T 7714
Danny Quah. DP1153 Measuring Core Inflation. 1995.
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