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Understanding the Effects of Government Spending on Consumption (in English)
Board of Governors of the Federal Reserv
(Author)
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Createspace Independent Publishing Platform
· Paperback
Understanding the Effects of Government Spending on Consumption (in English) - Board of Governors of the Federal Reserv
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Synopsis "Understanding the Effects of Government Spending on Consumption (in English)"
Recent evidence on the effect of government spending shocks on consumption cannot be easily reconciled with existing optimizing business cycle models. We extend the standard New Keynesian model to allow for the presence of rule-of-thumb (non- Ricardian) consumers. We show how the interaction of the latter with sticky prices and deficit financing can account for the existing evidence on the effects of government spending.
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The book is written in English.
The binding of this edition is Paperback.
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