| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w7515 |
| 来源ID | Working Paper 7515 |
| Fiscal Shocks in an Efficiency Wage Model | |
| Craig Burnside; Martin Eichenbaum; Jonas D.M. Fisher | |
| 发表日期 | 2000 |
| 出版年 | 2000 |
| 语种 | 英语 |
| 摘要 | This paper analyzes the ability of a general equilibrium efficiency wage model to account for the estimated response of hours worked and of real wages to a fiscal policy shock. Our key finding is that the model cannot do so unless we make the counterfactual assumption that marginal tax rates are constant. The model shares the strengths and weaknesses of high labor supply elasticity Real Business Cycle models. In particular it can account for the conditional volatility of real wages and hours worked. But it cannot account for the temporal pattern of how these variables respond to a fiscal policy shock and generates a counterfactual negative conditional correlation between government purchases and hours worked. |
| 主题 | Macroeconomics ; Macroeconomic Models ; Fiscal Policy |
| URL | https://www.nber.org/papers/w7515 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/565061 |
| 推荐引用方式 GB/T 7714 | Craig Burnside,Martin Eichenbaum,Jonas D.M. Fisher. Fiscal Shocks in an Efficiency Wage Model. 2000. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w7515.pdf（209KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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