Utilize este identificador para referenciar este registo: http://hdl.handle.net/10362/15087
Título: Essay on secular stagnation
Autor: Lancastre, Manuel Corrêa de Barros de
Orientador: Franco, Francesco
Palavras-chave: Secular stagnation
Liquidity trap
Distortionary taxes
Data de Defesa: Jan-2015
Resumo: In this paper we show that a closed economy, with a balanced budget and unable to increase public spending, can avoid or leave a persistent slump through adequate and timely combination of monetary and fiscal policy based on distortionary taxation. We use a three generations OLG New Keynesian model in which a permanent slump is possible without any self-correcting force to full-employment. Complementing recent work on Secular Stagnation using lump-sum taxation and government spending as fiscal instruments, our contribution is to use distortionary taxes over labor, consumption and capital, in a balanced budget environment with constant (or decreasing) government spending.
URI: http://hdl.handle.net/10362/15087
Designação: A Work Project presented as part of the requirements for the Award of a Master Degree in Economics from the NOVA – School of Business and Economics
Aparece nas colecções:NSBE: Nova SBE - MA Dissertations

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