Aggregate Demand Management in Search Equilibrium
نویسندگان
چکیده
منابع مشابه
Aggregate Demand Management and Equilibrium Selection
We study optimal government policy in an economy where (i) search frictions create a coordination problem and generate multiple, Pareto-ranked equilibria and (ii) the government finances the provision of a public good by taxing trade. The government must choose the tax rate before it knows which equilibrium will obtain, and therefore an important part of the problem is determining how the polic...
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Without successful large-scale regional evacuations, threats such as hurricanes and wild-fires can cause a large loss of life. In this context, automobiles are oftentimes an essential transportation mode for evacuations, but the ensuing traffic typically overwhelms the roadway capacity and causes congestion on a massive scale. Congestion leads to many problems including longer, costlier, and mo...
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We study optimal government policy in an economy where (i) search frictions create a coordination problem and generate multiple Pareto-ranked equilibria and (ii) the government finances the provision of a public good by taxing trade. The government must choose the tax rate before it knows which equilibrium will obtain, and therefore an important part of the problem is determining how the policy...
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The Aggregate Demand – Aggregate Supply framework has dominated intermediate macroeconomics textbooks since the 1980s. However, there have been 2007). In spite of these criticisms, the ADAS framework had continued to dominate the textbooks, with little or no response to these criticisms. This paper reviews the main criticisms of the ADAS framework, and then focuses on Gregory Mankiw's presentat...
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Consumption Expenditure Of the four components of aggregate demand, consumption expenditure C is the largest contributing to between 60% and 70% of total expenditure. For this reason, we often start our analysis with this particular component. This category of expenditure includes private spending on durable goods (automobiles, electronic goods, appliances, ... ), non-durable goods (food, cloth...
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ژورنال
عنوان ژورنال: Journal of Political Economy
سال: 1982
ISSN: 0022-3808,1537-534X
DOI: 10.1086/261099