| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP1497 |
| DP1497 Investment and Demand Uncertainty | |
| Luigi Guiso; Giuseppe Parigi | |
| 发表日期 | 1996-11-30 |
| 出版年 | 1996 |
| 语种 | 英语 |
| 摘要 | In this paper we develop a stochastic dynamic general equilibrium model of the Greek economy, in the real business cycle modelling tradition. Household preferences depend on private and public consumption and leisure. Government finances its investment, consumption and transfer payments by means of a proportional income tax rate. Households buy and sell foreign assets in an international capital market and also receive transfer payments from abroad. The volatility, persistence, and co-movement properties of the business cycle component of the data generated by the model are broadly consistent with the actual behaviour of the corresponding actual data of the Greek economy, in 1960?92. We use the model to investigate the response of major macroeconomic variables to temporary and permanent changes in government policy variables, foreign transfers and the rate of return on foreign assets. |
| 主题 | International Macroeconomics |
| 关键词 | Business cycles Growth Small open economy Taxes |
| URL | https://cepr.org/publications/dp1497 |
| 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/530644 |
| 推荐引用方式 GB/T 7714 | Luigi Guiso,Giuseppe Parigi. DP1497 Investment and Demand Uncertainty. 1996. |
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