Konferenzbeitrag
Implementable Fiscal Policy Rules
We use a novel procedure to identify fiscal feedback rules for the US: We start by estimating a DSGE model and on that basis compute the Ramsey optimal responses to structural shocks. Then we let the policy maker choose from a general set of rules to match the dynamic behavior of a number of key variables like output, debt, and consumption, in the competitive equilibrium with their corresponding dynamic behavior in the Ramsey equilibrium. In the next step we estimate the model again but employ the contingency derived previously. The policy rules derived are general, not as complex as Ramsey and easily implementable.
- Language
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Englisch
- Bibliographic citation
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Series: Beiträge zur Jahrestagung des Vereins für Socialpolitik 2010: Ökonomie der Familie - Session: Empirical Analyses of Fiscal Policy ; No. B9-V3
- Classification
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Wirtschaft
Fiscal Policy
Fiscal Policies and Behavior of Economic Agents: General
Model Construction and Estimation
- Subject
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Fiscal policy
Bayesian model estimation
Global Sensitivity Analysis
- Event
-
Geistige Schöpfung
- (who)
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Kliem, Martin
Kriwoluzky, Alexander
- Event
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Veröffentlichung
- (who)
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Verein für Socialpolitik
- (where)
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Frankfurt a. M.
- (when)
-
2010
- Handle
- Last update
-
10.03.2025, 11:41 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Konferenzbeitrag
Associated
- Kliem, Martin
- Kriwoluzky, Alexander
- Verein für Socialpolitik
Time of origin
- 2010
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