| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP3338 |
| DP3338 What are the Effects of Fiscal Policy Shocks? | |
| Harald Uhlig; Andrew Mountford | |
| 发表日期 | 2002-04-20 |
| 出版年 | 2002 |
| 语种 | 英语 |
| 摘要 | This note makes two comments on recent NNS models. First, it disputes the way physical capital has been introduced into these models, arguing that this leads to the dubious postulate that the cost of adjusting physical capital stock is an order of magnitude lower than the cost of changing prices. Second, it warns against a possible logical inconsistency whereby calibrated NNS models are implicitly assuming that some (price-constrained) firms are willing and able to sell their output below cost. |
| 主题 | International Macroeconomics |
| 关键词 | New neo-classical synthesis Sticky prices Cost-of-adjusting capital |
| URL | https://cepr.org/publications/dp3338 |
| 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/532361 |
| 推荐引用方式 GB/T 7714 | Harald Uhlig,Andrew Mountford. DP3338 What are the Effects of Fiscal Policy Shocks?. 2002. |
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