Resolving New Keynesian Anomalies with Wealth in the Utility Function
收藏NBER2018-09-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w24971
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资源简介：
At the zero lower bound, the New Keynesian model predicts that output and inflation collapse to implausibly low levels, and that government spending and forward guidance have implausibly large effects. To resolve these anomalies, we introduce wealth into the utility function; the justification is
提供机构：
美国国家经济研究局
创建时间：
2018-09-01
