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• W2555662876 abstract "We propose a simple macro-dynamic model to rethink standard policy prescriptions. Our model includes exogenous growth, endogenous capital accumulation and debt, demand-driven production with a non-linear IS curve, a dynamic Phillips curve, and fiscal and monetary policy instruments. It has multiple steady states with different stability properties, and it is analytically tractable to a significant extent. We complete the analytical results with simulations. We find alternative growth patterns, endogenous fluctuations, and demand-driven level effects even in the long-run. For certain steady states the model shows saddle-path type instabilities, which lead us to reflect on fiscal and monetary policy standards." @default.
• W2555662876 created "2016-11-30" @default.
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• W2555662876 date "2016-06-02" @default.
• W2555662876 modified "2023-10-18" @default.
• W2555662876 title "Rethinking Macroeconomic Policy within a Simple Dynamic Model" @default.
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• W2555662876 doi "https://doi.org/10.1111/meca.12133" @default.
• W2555662876 hasPublicationYear "2016" @default.
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