Policy Effects in a Simple Fully Non-Linear New Keynesian Model of the Liquidity Trap
| dc.contributor.author | Hahn, Volker | |
| dc.date.accessioned | 2019-12-02T10:01:20Z | |
| dc.date.available | 2019-12-02T10:01:20Z | |
| dc.date.issued | 2017 | eng |
| dc.description.abstract | We analyze a simple yet fully non-linear New Keynesian model of the liquidity trap. Productivity shocks are the only source of aggregate fluctuations and the central bank acts as a discretionary policy maker that pursues an inflation targeting strategy. We use this model to assess the effects of fiscal policy in a liquidity trap, the consequences of a commitment to change government expenditures in the future as well as the implications of lower taxes on labor and a higher inflation target. In contrast with some previous papers, we find that the effects of fiscal policy in a liquidity trap are moderate and that reductions in labor income taxes are expansionary. We do not find support for higher inflation targets. | eng |
| dc.description.version | published | de |
| dc.identifier.ppn | 1684672031 | |
| dc.identifier.uri | https://kops.uni-konstanz.de/handle/123456789/47753 | |
| dc.language.iso | eng | eng |
| dc.relation.ispartofseries | Working Paper Series / Department of Economics | |
| dc.rights | terms-of-use | |
| dc.rights.uri | https://rightsstatements.org/page/InC/1.0/ | |
| dc.subject | zero lower bound, fiscal multiplier, liquidity trap, new Keynesian model, multiple equilibria, inflation target | eng |
| dc.subject.ddc | 330 | eng |
| dc.title | Policy Effects in a Simple Fully Non-Linear New Keynesian Model of the Liquidity Trap | eng |
| dc.type | WORKINGPAPER | de |
| dspace.entity.type | Publication | |
| kops.bibliographicInfo.seriesNumber | 2017-05 | eng |
| kops.citation.bibtex | @techreport{Hahn2017Polic-47753,
year={2017},
series={Working Paper Series / Department of Economics},
title={Policy Effects in a Simple Fully Non-Linear New Keynesian Model of the Liquidity Trap},
number={2017-05},
url={https://ideas.repec.org/p/knz/dpteco/1705.html},
author={Hahn, Volker}
} | |
| kops.citation.iso690 | HAHN, Volker, 2017. Policy Effects in a Simple Fully Non-Linear New Keynesian Model of the Liquidity Trap | deu |
| kops.citation.iso690 | HAHN, Volker, 2017. Policy Effects in a Simple Fully Non-Linear New Keynesian Model of the Liquidity Trap | eng |
| kops.citation.rdf | <rdf:RDF
xmlns:dcterms="http://purl.org/dc/terms/"
xmlns:dc="http://purl.org/dc/elements/1.1/"
xmlns:rdf="http://www.w3.org/1999/02/22-rdf-syntax-ns#"
xmlns:bibo="http://purl.org/ontology/bibo/"
xmlns:dspace="http://digital-repositories.org/ontologies/dspace/0.1.0#"
xmlns:foaf="http://xmlns.com/foaf/0.1/"
xmlns:void="http://rdfs.org/ns/void#"
xmlns:xsd="http://www.w3.org/2001/XMLSchema#" >
<rdf:Description rdf:about="https://kops.uni-konstanz.de/server/rdf/resource/123456789/47753">
<dc:date rdf:datatype="http://www.w3.org/2001/XMLSchema#dateTime">2019-12-02T10:01:20Z</dc:date>
<dc:creator>Hahn, Volker</dc:creator>
<dcterms:issued>2017</dcterms:issued>
<bibo:uri rdf:resource="https://kops.uni-konstanz.de/handle/123456789/47753"/>
<dc:rights>terms-of-use</dc:rights>
<dcterms:isPartOf rdf:resource="https://kops.uni-konstanz.de/server/rdf/resource/123456789/46"/>
<dc:contributor>Hahn, Volker</dc:contributor>
<dcterms:abstract xml:lang="eng">We analyze a simple yet fully non-linear New Keynesian model of the liquidity trap. Productivity shocks are the only source of aggregate fluctuations and the central bank acts as a discretionary policy maker that pursues an inflation targeting strategy. We use this model to assess the effects of fiscal policy in a liquidity trap, the consequences of a commitment to change government expenditures in the future as well as the implications of lower taxes on labor and a higher inflation target. In contrast with some previous papers, we find that the effects of fiscal policy in a liquidity trap are moderate and that reductions in labor income taxes are expansionary. We do not find support for higher inflation targets.</dcterms:abstract>
<dc:language>eng</dc:language>
<dspace:isPartOfCollection rdf:resource="https://kops.uni-konstanz.de/server/rdf/resource/123456789/46"/>
<dcterms:available rdf:datatype="http://www.w3.org/2001/XMLSchema#dateTime">2019-12-02T10:01:20Z</dcterms:available>
<foaf:homepage rdf:resource="http://localhost:8080/"/>
<dcterms:rights rdf:resource="https://rightsstatements.org/page/InC/1.0/"/>
<dcterms:title>Policy Effects in a Simple Fully Non-Linear New Keynesian Model of the Liquidity Trap</dcterms:title>
<dcterms:hasPart rdf:resource="https://kops.uni-konstanz.de/bitstream/123456789/47753/1/Hahn_2-177m07fbqj51a9.pdf"/>
<dspace:hasBitstream rdf:resource="https://kops.uni-konstanz.de/bitstream/123456789/47753/1/Hahn_2-177m07fbqj51a9.pdf"/>
<void:sparqlEndpoint rdf:resource="http://localhost/fuseki/dspace/sparql"/>
</rdf:Description>
</rdf:RDF> | |
| kops.description.openAccess | openaccessgreen | |
| kops.flag.knbibliography | true | |
| kops.identifier.nbn | urn:nbn:de:bsz:352-2-177m07fbqj51a9 | |
| kops.relation.seriesofconstance | Working Paper Series / Department of Economics | |
| kops.url | https://ideas.repec.org/p/knz/dpteco/1705.html | |
| kops.urlDate | 2019-12-06 | |
| relation.isAuthorOfPublication | 0c6b3dca-044a-43d9-b0f8-f8f7e924fd79 | |
| relation.isAuthorOfPublication.latestForDiscovery | 0c6b3dca-044a-43d9-b0f8-f8f7e924fd79 | |
| relation.isSeriesOfPublication | 5a966192-6992-4bea-95cc-530b7a478a86 | |
| relation.isSeriesOfPublication.latestForDiscovery | 5a966192-6992-4bea-95cc-530b7a478a86 |
Dateien
Originalbündel
1 - 1 von 1
Vorschaubild nicht verfügbar
- Name:
- Hahn_2-177m07fbqj51a9.pdf
- Größe:
- 984.42 KB
- Format:
- Adobe Portable Document Format
- Beschreibung:
