【ECON20151214】

宏觀經(jīng)濟(jì)學(xué)研討會(huì) （總第187期）

【時(shí)間】2015年10月14日（周三）12：15－13：45
【地點(diǎn)】明商0502教室
【主講】韋祎 中國人民大學(xué)經(jīng)濟(jì)學(xué)院
【點(diǎn)評】薛澗波 中國人民大學(xué)財(cái)政金融學(xué)院副教授
【主題】Fiscal Policy Stabilization: Purchases or Transfers？( R. Mehrotra, Working Paper , 2014)
【摘要】Both government purchases and transfers figure prominently as tools for counteracting recessions. However, representative agent models rule out transfers by construction. This paper builds a borrower-lender model with credit spreads and examines both the purchases and transfers multiplier. Under flexible prices, transfers affect output through wealth effects on labor supply and carry small multipliers. Under sticky prices, both multipliers depend on the degree of monetary accommodation. When the zero lower bound is binding, both purchases and transfers carry multipliers above unity, but the transfer multiplier relative to the purchases multiplier is increasing in the debt-elasticity of the credit spread.
【主持】陳彥斌 教授


人大宏觀經(jīng)濟(jì)學(xué)研討會(huì)（Macro Workshop）旨在追蹤宏觀經(jīng)濟(jì)學(xué)國際最新進(jìn)展，倡導(dǎo)構(gòu)建符合國情的動(dòng)態(tài)優(yōu)化模型，并使用計(jì)算機(jī)模擬研究經(jīng)濟(jì)增長、收入分配和宏觀政策等中國宏觀經(jīng)濟(jì)重大問題。
聯(lián)系人：劉哲希    Email：Macro_Workshop@163.com
資料下載：www.docin.com/mydoc-88265459-1.html




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