 | Government Spending Effects in a Policy Constrained Environment Author/Editor: Ruoyun Mao, Shu-Chun Susan Yang. Release Date:June, 2020 The theoretical literature generally finds that government spending multipliers are bigger than unity in a low interest rate environment. Using a fully nonlinear New Keynesian model, we show that more...
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| The Fiscal State-Dependent Effects of Capital Income Tax Cuts Author/Editor: Alexandra Fotiou, Wenyi Shen, Shu-Chun Susan Yang. Release Date:May, 2020 Using the post-WWII data of U.S. federal corporate income tax changes, within a Smooth Transition VAR, this paper finds that the output effect of capital income tax cuts is government debt-dependent: more...
| Price: $18.00
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| Optimal Fiscal Spending and Reserve Accumulation Policies under Volatile Aid Author/Editor: Ioana Moldovan, Shu-Chun Susan Yang, Luis-Felipe Zanna. Release Date:June, 2019 This paper assesses the optimal setting of fiscal spending and foreign exchange rate intervention policies in response to volatile foreign aid, in a small open economy model that incorporates typical more...
| Price: $18.00
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| Fiscal Consolidation and Public Wages Author/Editor: Juin-Jen Chang, Hsieh-Yu Lin, Nora Traum, Shu-Chun Susan Yang. Release Date:June, 2019 A New Keynesian model with government production, public compensation, and unemployment is fit to U.S. data to study the macroeconomic and fiscal effects of public wage reductions. We find that more...
| Price: $18.00
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| Fiscal Implications of Interest Rate Normalization in the United States Author/Editor: Huixin Bi, Wenyi Shen, Shu-Chun Susan Yang. Release Date:May, 2019 This paper studies the main channels through which interest rate normalization has fiscal implications in the United States. While unexpected inflation reduces the real value of government more...
| Price: $18.00
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 | Fiscal Foresight and Information Flows Author/Editor: Eric M. Leeper, Todd B. Walker, Shu-Chun S. Yang. Release Date:June, 2012 News - or foresight - about future economic fundamentals can create rational expectations equilibria with non-fundamental representations that pose substantial challenges to econometric efforts to more...
| Price: $18.00
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| The Effects of Government Spending under Limited Capital Mobility Author/Editor: Wenyi Shen, Shu-Chun S. Yang. Release Date:May, 2012 This paper studies the effects of government spending under limited international capital mobility, as featured by most developing countries. While external financing of government debt mitigates the more...
| Price: $18.00
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