التفاصيل البيبلوغرافية
| العنوان: |
The Welfare and Distributional Effects of Fiscal Volatility: a Quantitative Evaluation |
| المؤلفون: |
Ruediger Bachmann, Jinhui Bai, Minjoon Lee, Fudong Zhang |
| المصدر: |
Elsevier for the Society for Economic Dynamics, Review of Economic Dynamics. 38:127-153 |
| سنة النشر: |
2020 |
| الوصف: |
This study explores the welfare and distributional effects of fiscal volatility using a neoclassical stochastic growth model with incomplete markets. In our model, households face uninsurable idiosyncratic risks in their labor income and discount factor processes, and we allow aggregate uncertainty to arise from both productivity and government purchases shocks. We calibrate our mod el to key features of the U.S. economy, before eliminating government purchases shocks. We then evaluate the distributional consequences of the elimination of fiscal volatility and find that, in our baseline case, welfare gains increase with private wealth holdings. (Copyright: Elsevier) |
| نوع الوثيقة: |
redif-article |
| اللغة: |
English |
| DOI: |
10.1016/j.red.2020.04.001 |
| الإتاحة: |
https://ideas.repec.org/a/red/issued/18-207.html |
| رقم الأكسشن: |
edsrep.a.red.issued.18.207 |
| قاعدة البيانات: |
RePEc |
