| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w27366 |
| 来源ID | Working Paper 27366 |
| Inequality, Fiscal Policy and COVID19 Restrictions in a Demand-Determined Economy | |
| Alan J. Auerbach; Yuriy Gorodnichenko; Daniel Murphy | |
| 发表日期 | 2020-06-15 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | We evaluate the effects of inequality, fiscal policy, and COVID19 restrictions in a model of economic slack with potentially rigid capital operating costs. Inequality has large negative effects on output, while also diminishing the effects of demand-side fiscal stimulus. COVID restrictions can reduce current-period GDP by more than is directly associated with the restrictions themselves when rigid capital costs induce firm exit. Higher inequality is associated with larger restriction multipliers. The effectiveness of fiscal policies depends on inequality and the joint distribution of capital operating costs and firm revenues. Furthermore, COVID19 restrictions can cause future inflation, as households tilt their expenditure toward the future. |
| 主题 | Macroeconomics ; Business Cycles ; Fiscal Policy ; Public Economics ; Taxation ; COVID-19 |
| URL | https://www.nber.org/papers/w27366 |
| 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/585038 |
| 推荐引用方式 GB/T 7714 | Alan J. Auerbach,Yuriy Gorodnichenko,Daniel Murphy. Inequality, Fiscal Policy and COVID19 Restrictions in a Demand-Determined Economy. 2020. |
| 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 | ||
| w27366.pdf（349KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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