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Lädt ... A party without a hangover? : on the effects of U.S. government deficitsvon Michael Kumhof
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This paper develops a 2-country New Keynesian overlapping generations model suitable for the joint evaluation of monetary and fiscal policies. We show that a permanent increase in U.S. government deficits raises the world real interest rate and significantly increases U.S. current account deficits, especially in the medium- to long-run. A simultaneous increase in non-U.S. savings lowers the world real interest rate and further increases U.S. current account deficits. We show that conventional infinite horizon models are ill-equipped to deal with issues that involve permanent changes in public Keine Bibliotheksbeschreibungen gefunden. |
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![]() GenresMelvil Decimal System (DDC)336.340973Social sciences Economics Public Finance & Taxation Loans; Public securities Public creditKlassifikation der Library of Congress [LCC] (USA)BewertungDurchschnitt: Keine Bewertungen.Bist das du?Werde ein LibraryThing-Autor. |