Economia
Interessante este artigo aqui:
"Recent research has found that the dynamics of the New Keynesian model are
very di ferent when the nominal interest rate is zero. Improvements in technology and
reductions in the labor tax rate lower economic activity and the size of the government
purchase output multiplier can be as large as four. We consider the empirical relevance
of these findings using Japanese data. Japan is interesting because it experienced a
protracted period of zero nominal interest rates. A prototypical New Keynesian model
calibrated to Japan and solved using nonlinear methods exhibits orthodox dynamics
with a government purchase multiplier that is less than one."
O modelo em questão tem propriedades ortodoxas, sendo que o multiplicador de gastos do governo é menor do que um. O resultado depende, aparentemente, de se usar métodos não-lineares para calibrar o modelo, o que mantém os custos de ajustamento de preços positivos mesmo no estado estacionário.
PS: Este e outros artigos interessantes aparecem nesta conferência sobre modelos DSGE do FRBofA.
- Keynes, Hayek, Wicksell - Uma Nova Síntese
Rethinking the Keynesian Revolution: Keynes, Hayek, and the Wicksell Connection Tyler Beck Goodspeed Print publication date: 2012 Print ISBN-13: 9780199846658 Published to Oxford Scholarship Online: September 2012 DOI: 10.1093/acprof:oso/9780199846658.001.0001...
- Dívida Pública - Mapa Interativo
Our interactive graphic above shows the IMF's latest forecasts (updated in October 2012) for government gross debt as a percentage of GDP through to 2017. It also allows you to input your own long-term assumptions to project the likely path of debt...
- A Dinâmica Da Dívida Pública
There are two things that matter in government-debt dynamics: the difference between real interest rates and GDP growth (r-g), and the primary budget balance as a % of GDP (ie, before interest payments). In any given period the debt stock grows by the...
- Dinâmica Da Dívida Pública
Debt dynamics The maths behind the madness The Economist online Our interactive guide to reducing government debtGOVERNMENT debt dynamics, once an esoteric subject of interest only to macroeconomists, are suddenly in vogue. With Greece...
- Qual O Impacto Das Políticas Não-convencionais Do Fed?
De acordo com este artigo de del Negro, Eggertsson, Ferrero e Kyiotaki, o impacto foi grande e evitou uma nova Grande Depressão: This paper extends the model in Kiyotaki and Moore (2008) to include nominal wage and price frictions and explicitly incorporates...
Economia
Dinâmica em um Modelo Novo-Keynesiano Quando a Taxa Nominal de Juros é Zero
Interessante este artigo aqui:
"Recent research has found that the dynamics of the New Keynesian model are
very di ferent when the nominal interest rate is zero. Improvements in technology and
reductions in the labor tax rate lower economic activity and the size of the government
purchase output multiplier can be as large as four. We consider the empirical relevance
of these findings using Japanese data. Japan is interesting because it experienced a
protracted period of zero nominal interest rates. A prototypical New Keynesian model
calibrated to Japan and solved using nonlinear methods exhibits orthodox dynamics
with a government purchase multiplier that is less than one."
O modelo em questão tem propriedades ortodoxas, sendo que o multiplicador de gastos do governo é menor do que um. O resultado depende, aparentemente, de se usar métodos não-lineares para calibrar o modelo, o que mantém os custos de ajustamento de preços positivos mesmo no estado estacionário.
PS: Este e outros artigos interessantes aparecem nesta conferência sobre modelos DSGE do FRBofA.
loading...
- Keynes, Hayek, Wicksell - Uma Nova Síntese
Rethinking the Keynesian Revolution: Keynes, Hayek, and the Wicksell Connection Tyler Beck Goodspeed Print publication date: 2012 Print ISBN-13: 9780199846658 Published to Oxford Scholarship Online: September 2012 DOI: 10.1093/acprof:oso/9780199846658.001.0001...
- Dívida Pública - Mapa Interativo
Our interactive graphic above shows the IMF's latest forecasts (updated in October 2012) for government gross debt as a percentage of GDP through to 2017. It also allows you to input your own long-term assumptions to project the likely path of debt...
- A Dinâmica Da Dívida Pública
There are two things that matter in government-debt dynamics: the difference between real interest rates and GDP growth (r-g), and the primary budget balance as a % of GDP (ie, before interest payments). In any given period the debt stock grows by the...
- Dinâmica Da Dívida Pública
Debt dynamics The maths behind the madness The Economist online Our interactive guide to reducing government debtGOVERNMENT debt dynamics, once an esoteric subject of interest only to macroeconomists, are suddenly in vogue. With Greece...
- Qual O Impacto Das Políticas Não-convencionais Do Fed?
De acordo com este artigo de del Negro, Eggertsson, Ferrero e Kyiotaki, o impacto foi grande e evitou uma nova Grande Depressão: This paper extends the model in Kiyotaki and Moore (2008) to include nominal wage and price frictions and explicitly incorporates...