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http://hdl.handle.net/10362/15087
Título: | Essay on secular stagnation |
Autor: | Lancastre, Manuel Corrêa de Barros de |
Orientador: | Franco, Francesco |
Palavras-chave: | Secular stagnation Liquidity trap Distortionary taxes |
Data de Defesa: | Jan-2015 |
Resumo: | In this paper we show that a closed economy, with a balanced budget and unable to increase public spending, can avoid or leave a persistent slump through adequate and timely combination of monetary and fiscal policy based on distortionary taxation. We use a three generations OLG New Keynesian model in which a permanent slump is possible without any self-correcting force to full-employment. Complementing recent work on Secular Stagnation using lump-sum taxation and government spending as fiscal instruments, our contribution is to use distortionary taxes over labor, consumption and capital, in a balanced budget environment with constant (or decreasing) government spending. |
URI: | http://hdl.handle.net/10362/15087 |
Designação: | A Work Project presented as part of the requirements for the Award of a Master Degree in Economics from the NOVA – School of Business and Economics |
Aparece nas colecções: | NSBE: Nova SBE - MA Dissertations |
Ficheiros deste registo:
Ficheiro | Descrição | Tamanho | Formato | |
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Lancastre_2015.pdf | 823,19 kB | Adobe PDF | Ver/Abrir |
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