haku: @author Valles, J. / yhteensä: 5
viite: 1 / 5
« edellinen | seuraava »
| Tekijä: | Gali, J. Valles, J. Lopez-Salido, J.D. |
| Otsikko: | Understanding the effects of government spending on consumption |
| Lehti: | Journal of the European Economic Association
2007 : MAR, VOL. 5:1, p. 227-270 |
| Asiasana: | public expenditure consumption |
| Kieli: | eng |
| Tiivistelmä: | It is suggested by recent evidence that consumption rises in response to an increase in government spending (here as: gov-spdg.) which can not easily be reconciled with existing optimizing business cycle models. The standard new Keynesian model is extended to allow for the presence of rule-of-thumb consumers. It is shown how the interaction of the latter with sticky prices and deficit financing can account for the existing evidence on gov-spdg. effects. |
« edellinen | seuraava »
SCIMA