Optimal Stabilization Policy

You tin strength out at ane time access the published version of my recent newspaper alongside Matthew Weinzierl by clicking here.  A significant change from the working newspaper version is the improver of thoughtful comments past times the discussants Olivier Blanchard and Gauti Eggertsson.

In representative yous forgot what the newspaper is about, hither is the abstract:

This newspaper examines the optimal reply of monetary as well as financial policy to a spend upwards inward aggregate demand. The theoretical framework is a two-period full general equilibrium model inward which prices are mucilaginous inward the brusk run as well as flexible inward the long run. Policy is evaluated past times how good it raises the welfare of the representative household. Although the model has Keynesian features, its policy prescriptions differ significantly from those of textbook Keynesian analysis. Moreover, the model suggests that the usually used “bang for the buck” calculations are potentially misleading guides for the welfare effects of choice financial policies.

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