| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP14903 |
| DP14903 Epidemics in the Neoclassical and New-Keynesian Models | |
| Martin Eichenbaum; Sérgio Rebelo; Mathias Trabandt | |
| 发表日期 | 2022-02-14 |
| 出版年 | 2022 |
| 语种 | 英语 |
| 摘要 | We analyse the e§ects of an epidemic in three standard macroeconomic models. We Önd that the neoclassical model does not rationalize the positive comovement of consumption and investment observed in recessions associated with an epidemic. Intro- ducing monopolistic competition into the neoclassical model remedies this shortcoming even when prices are completely áexible. Finally, sticky prices lead to a larger recession but do not fundamentally alter the predictions of the monopolistic competition model. |
| 主题 | Macroeconomics and Growth |
| 关键词 | Epidemic Comovement investment Recession |
| URL | https://cepr.org/publications/dp14903-1 |
| 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/545980 |
| 推荐引用方式 GB/T 7714 | Martin Eichenbaum,Sérgio Rebelo,Mathias Trabandt. DP14903 Epidemics in the Neoclassical and New-Keynesian Models. 2022. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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