| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w15021 |
| 来源ID | Working Paper 15021 |
| Fiscal Policy Can Reduce Unemployment: But There is a Less Costly and More Effective Alternative | |
| Roger E. A. Farmer | |
| 发表日期 | 2009-05-28 |
| 出版年 | 2009 |
| 语种 | 英语 |
| 摘要 | This paper uses a model with a continuum of equilibrium steady state unemployment rates to explore the effectiveness of fiscal policy. The existence of multiple steady state equilibria is explained by the presence of search and recruiting costs. I use the model to explain the current financial crisis as a shift to a high unemployment equilibrium, induced by the self-fulfilling beliefs of market participants about asset prices. I ask two questions. 1) Can fiscal policy help us out of the crisis? 2) Is there an alternative to fiscal policy that is less costly and more effective? The answer to both questions is yes. |
| 主题 | Macroeconomics ; Consumption and Investment |
| URL | https://www.nber.org/papers/w15021 |
| 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/572697 |
| 推荐引用方式 GB/T 7714 | Roger E. A. Farmer. Fiscal Policy Can Reduce Unemployment: But There is a Less Costly and More Effective Alternative. 2009. |
| 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 | ||
| w15021.pdf（242KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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