Description

• Title:
  Heterogeneity of households and the effects of fiscal policy in CEE countries
• Creator:
  Krajewski, Piotr
• Contributor:
  Faculty of Economics and Sociology, University of Lodz
• Description:
  We analyse the effects of fiscal policy in non-EMU Central and Eastern European counties. The analysis is based on new Keynesian model, which takes into account both optimizing Ricardian households and non-Ricardian households with liquidity constraints. Results of the study indicate that the share of non-Ricardians has significant impact on fiscal multipliers. The government spending multiplier reaches 3 in the country with highest share of non- Ricardian households, whereas in the country with lowest share of non-Ricardians is lower than one. Also effects of government spending shocks on consumption are very sensitive to the share of households with liquidity constraints.;
  National Science Centre, Poland (within research project DEC-2014/15/B/HS4/01996).
• Object availability:
  free access
• Rights:
  Uznanie autorstwa-Użycie niekomercyjne-Bez utworów zależnych 3.0 Polska;
  http://creativecommons.org/licenses/by-nc-nd/3.0/pl
• Date:
  2016.06.08;
  2016
• Language:
  English
• Format:
  application/pdf
• Publisher:
  Faculty of Economics and Sociology of the University of Lodz
• Relation:
  Lodz Economics Working Papers;2/2016
• Subject:
  fiscal policy;
  government spending;
  new Keynesian model;
  heterogeneity of households;
  non-Ricardian households
• Identifier: http://hdl.handle.net/11089/18265
• Data provider:
  Repozytorium Uniwersytetu Łódzkiego
• Can I use it?:
  check license
• Type:
  other