منابع مشابه
Aggregate Demand, Functional Finance and Secular Stagnation
This paper makes three main points. Fiscal policy, rst, may be needed in the long run to maintain full employment and avoid secular stagnation. If scal policy is used in this way, second, the long-run debt ratio depends (i) inversely on the rate of growth, (ii) inversely on government consumption, and (iii) directly on the degree of inequality. The analysis, third, suggests that policies and ...
متن کاملDEPARTMENT OF ECONOMICS Working Paper Aggregate Demand , Functional Finance and Secular Stagnation
This paper makes three main points. Fiscal policy, rst, may be needed in the long run to maintain full employment and avoid secular stagnation. If scal policy is used in this way, second, the long-run debt ratio depends (i) inversely on the rate of growth, (ii) inversely on government consumption, and (iii) directly on the degree of inequality. The analysis, third, suggests that policies and ...
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Nominal and real interest rates in advanced economies have been decreasing since the mid-1980s and reached historical low levels in the aftermath of the global financial crisis. Understanding why interest rates have fallen is essential for both monetary policy and financial stability. This paper focuses on one of the factors that have been put forward in the literature within the secular stagna...
متن کاملComparing supply side and demand side options for electrifying a local area using life cycle analysis of energy technologies and demand side programs
The main aim of this paper is to select the best portfolio of renewable energy technologies (RETs) for electrifying an elected area which is not connected to any other grids. Minimizing total costs of the system is considered as the main factor in finding the best decision. In order to make the optimum plan more applicable, the technique of life cycle analysis is applied. This technique takes i...
متن کاملForesighted Demand Side Management
We consider a smart grid with an independent system operator (ISO), and distributed aggregators who have energy storage and purchase energy from the ISO to serve its customers. All the entities in the system are foresighted: each aggregator seeks to minimize its own long-term payments for energy purchase and operational costs of energy storage by deciding how much energy to buy from the ISO, an...
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ژورنال
عنوان ژورنال: American Economic Review
سال: 2015
ISSN: 0002-8282
DOI: 10.1257/aer.p20151103