| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w24710 |
| 来源ID | Working Paper 24710 |
| Inequality, Business Cycles, and Monetary-Fiscal Policy | |
| Anmol Bhandari; David Evans; Mikhail Golosov; Thomas J. Sargent | |
| 发表日期 | 2018-06-18 |
| 出版年 | 2018 |
| 语种 | 英语 |
| 摘要 | We study optimal monetary and fiscal policy in a model with heterogeneous agents, incomplete markets, and nominal rigidities. We develop numerical techniques to approximate Ramsey plans and apply them to a calibrated economy to compute optimal responses of nominal interest rates and labor tax rates to aggregate shocks. Responses differ qualitatively from those in a representative agent economy and are an order of magnitude larger. Taylor rules poorly approximate the Ramsey optimal nominal interest rate. Conventional price stabilization motives are swamped by an across person insurance motive that arises from heterogeneity and incomplete markets. |
| 主题 | Microeconomics ; Mathematical Tools ; Macroeconomics ; Monetary Policy ; Fiscal Policy |
| URL | https://www.nber.org/papers/w24710 |
| 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/582383 |
| 推荐引用方式 GB/T 7714 | Anmol Bhandari,David Evans,Mikhail Golosov,et al. Inequality, Business Cycles, and Monetary-Fiscal Policy. 2018. |
| 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 | ||
| w24710.pdf（819KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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