EM Leeper, M Plante… - Journal of Econometrics, 2010 - Elsevier
General equilibrium models that include policy rules for government spending, lump-sum
transfers, and distortionary taxation on labor and capital income and on consumption
expenditures are fit to US data under rich specifications of fiscal policy rules to obtain ...
N Traum, SCS Yang… - 2010 - papers.ssrn.com
The Center for Applied Economics and Policy Research resides in the Department of Economics
at Indiana University Bloomington. CAEPR can be found on the Internet at: http://www.indiana
.edu/~caepr. CAEPR can be reached via email at caepr@indiana.edu or via phone at ...
N Traum… - 2009 - federation.ens.fr
Abstract. We estimate the crowding out effects of government debt for the US economy using
a New Keynesian model that takes into account government consumption and investment,
transfers, and distortionary taxation on consumption and on labor and capital income. The ...
Bayesian prior predictive analysis of five nested DSGE models suggests that model
specifications and prior distributions tightly circumscribe the range of possible government
spending multipliers. Multipliers are decomposed into wealth and substitution effects, ...
N Traum… - European Economic Review, 2011 - Elsevier
A New Keynesian model allowing for an active monetary and passive fiscal policy (AMPF)
regime and a passive monetary and active fiscal policy (PMAF) regime is estimated to fit
various US samples from 1955 to 2007. The results show that data in the pre-Volcker ...
[CITATION] Clearing up the Fiscal Multiplier Morass: A Bayesian Perspective
EM Leeper, N Traum… - Draft, University of Indiana, 2011
SC Yang… - 2011 - papers.ssrn.com
Abstract: A New Keynesian model allowing for an active monetary and passive fiscal policy
(AMPF) regime and a passive monetary and active fiscal policy (PMAF) regime is fit to
various US samples from 1955 to 2007. Data in the pre-Volcker periods strongly prefer an ...
M Plante… - 2012 - papers.ssrn.com
Abstract: We illustrate the theoretical relation among output, consumption, investment, and
oil price volatility in a real business cycle model. The model incorporates demand for oil by a
firm, as an intermediate input, and by a household, used in conjunction with a durable ...
N Traum - 2008 - reservebank.govt.nz
Abstract Legislative and implementation lags inherent in the political process often allow
private agents to receive news about their future tax rates, a phenomenon known as fiscal,
or more specifically tax, foresight. This paper investigates the effects of fiscal foresight on ...
[CITATION] UNDERSTANDING MONETARY POLICY IN THE PRESENCE OF TAX FORESIGHT
N TRAUM - 2009
Figures 1-4 display plot slices of the likelihood around the mode for the model in which all
fiscal instruments adjust to debt. Similar plots exist for the alternative estimated models. We
performed 50 searches for the mode from different starting values to determine if more ...
[CITATION] Introduction to New Keynesian Models
N Traum
N Traum - 2011 - gradworks.umi.com
Abstract: This dissertation investigates the effects of government debt accumulation and tax
foresight on the macroeconomy. In the first essay (joint with Eric Leeper and Michael Plante),
government spending, lump-sum transfers, and distortionary taxation on labor and capital ...
M Plante… - 2011 - coloradocollege.edu
Abstract Using a DSGE model we examine how time-varying volatility in the price of oil
affects macroeconomic aggregates. For realistic calibrations of the model an increase in
volatility produces a temporary decrease in spending on durable goods but counterfactual ...
N TRAUM - 2011 - ncsu.edu
Abstract. Legislative and implementation lags inherent in the political process often allow
private agents to receive news about their future tax rates, giving agents “tax foresight.” This
paper investigates the effects of tax foresight on monetary policy under various ...
H Bi… - 2011 - ec.europaipv6.eu
Abstract This paper uses Bayesian methods to estimate the probability of sovereign default
implied by a rational expectations framework and data for two OECD countries: Greece and
Italy. We build a real business cycle model that allows interactions among fiscal policy ...
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