Arbeitspapier
The "Rajan hypothesis": A counter-factual experiment
We integrate a centralized wage bargaining process into an otherwise standard DSGE model with a financial accelerator to simulate distributional shocks in the presence of financial instability. Our framework provides a counterfactual analysis of the effects of the observed decrease in the labor share when no concomitant rise in households' credit offsets the adverse effect on consumption. The result is a prolonged under-consumption recession that outweighs the initial boost in investment.
- Sprache
-
Englisch
- Erschienen in
-
Series: LEM Working Paper Series ; No. 2018/03
- Klassifikation
-
Wirtschaft
Macro-Based Behavioral Economics: General‡
Computational Techniques; Simulation Modeling
Monetary Policy
- Thema
-
Income inequality
Distributional shocks
Under-consumption
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Coronese, Matteo
Salle, Isabelle
- Ereignis
-
Veröffentlichung
- (wer)
-
Scuola Superiore Sant'Anna, Laboratory of Economics and Management (LEM)
- (wo)
-
Pisa
- (wann)
-
2018
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Coronese, Matteo
- Salle, Isabelle
- Scuola Superiore Sant'Anna, Laboratory of Economics and Management (LEM)
Entstanden
- 2018
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