| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP9977 |
| DP9977 Demand expectations and the timing of stimulus policies | |
| Bernardo Guimaraes | |
| 发表日期 | 2014-05-11 |
| 出版年 | 2014 |
| 语种 | 英语 |
| 摘要 | This paper proposes a simple macroeconomic model with staggered investment decisions. The expected return from investing depends on demand expectations, which are pinned down by fundamentals and history. Owing to an aggregate demand externality, investment subsidies can improve welfare in this economy. The model can be used to address questions concerning the timing of stimulus policies: should the government spend more on preventing the economy from falling into a recession or on rescuing the economy when productivity picks up? Results show the government should strike a balance between both objectives. |
| 主题 | International Macroeconomics |
| 关键词 | Coordination Demand expectations Fiscal stimulus Timing frictions |
| URL | https://cepr.org/publications/dp9977 |
| 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/538810 |
| 推荐引用方式 GB/T 7714 | Bernardo Guimaraes. DP9977 Demand expectations and the timing of stimulus policies. 2014. |
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