| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w21436 |
| 来源ID | Working Paper 21436 |
| Unsticking the Flypaper Effect in an Uncertain World | |
| Carlos A. Vegh; Guillermo Vuletin | |
| 发表日期 | 2015-08-10 |
| 出版年 | 2015 |
| 语种 | 英语 |
| 摘要 | We provide a novel explanation for the flypaper effect based on insurance arguments. In our model, the flypaper effect arises due to the differential response of precautionary savings to private income or fiscal transfers shocks in an uncertain world with incomplete markets. The model generates two testable implications: (i) the flypaper effect is a decreasing function of the correlation between fiscal transfers and private income, and (ii) such relationship is stronger the higher is the volatility of fiscal transfers and/or private income. An empirical analysis of Argentinean provinces for the period 1963-2006 finds strong support for the model's implications. |
| 主题 | Macroeconomics ; Consumption and Investment ; Fiscal Policy ; Public Economics ; National Fiscal Issues ; Subnational Fiscal Issues |
| URL | https://www.nber.org/papers/w21436 |
| 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/579111 |
| 推荐引用方式 GB/T 7714 | Carlos A. Vegh,Guillermo Vuletin. Unsticking the Flypaper Effect in an Uncertain World. 2015. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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