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来源类型 | Discussion paper |
规范类型 | 论文 |
来源ID | DP1153 |
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 |
URL | https://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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