On impatience and policy effectiveness [[electronic resource] /] / prepared by Tamim Bayoumi and Silvia Sgherri

• Autore: Bayoumi Tamim A
• Pubblicazione: [Washington D.C.], : International Monetary Fund, 2009
• Descrizione fisica: 1 online resource (30 p.)
• Soggetto topico: Fiscal policy; Economic policy
• Soggetto genere / forma: Electronic books.
• Altri autori: SgherriSilvia
• Note generali: Description based upon print version of record.
• Nota di bibliografia: Includes bibliographical references.
• Nota di contenuto: Contents; I. Introduction; II. Theoretical Model; III. Empirical Estimates; IV. Analysis and Discussion; V. Conclusions and Policy Implications; References; Tables; 1. United States: Unit Root Tests; 2. United States: Cointegration Tests; 3. United States: Estimates of Unrestricted Model (Eq. 10); 4. United States: Estimates of Restricted Model with Impatient Consumers (Eq. 9); Figures; 1. United States: The Data, 1955-2005; 2. United States: Validity of Model Restrictions over Time; 3. United States: Time Variation in the Discount Wedge ; 4. United States: Time Variation in the Persistence of Income/Policy Shocks5. United States: Time Variation in Income/Policy Multiplier; 6. United States: Counterfactual Analysis
• Sommario/riassunto: An increasing body of evidence suggests that the behavior of the economy has changed in many fundamental ways over the last decades. In particular, greater financial deregulation, larger wealth accumulation, and better policies might have helped lower uncertainty about future income and lengthen private sectors' planning horizon. In an overlapping-generations model, in which individuals discount the future more rapidly than implied by the market rate of interest, we find indeed evidence of a falling degree of impatience, providing empirical support for this hypothesis. The degree of persistenc
• Titolo autorizzato: On impatience and policy effectiveness
• ISBN: 1-4623-2147-X; 1-4527-4200-6; 1-4518-7165-1; 9786612842405; 1-282-84240-4
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Lingua di pubblicazione: Inglese
• Record Nr.: 9910464232303321
• Lo trovi qui: Univ. Federico II
• Serie: IMF working paper ; ; WP/09/18.