Losers and losses of COVID-19: a directed technical change analysis with fiscal and monetary policies

نویسندگان

چکیده

Abstract We develop a directed technical change growth model with both public and private sectors. Due to the COVID-19 pandemic, labor productivity R &D activity in sector are considered have negative shock. The former shock causes an immediate fall premium, which can be reversed during transition dynamics towards steady-state. Fiscal policies materialized direct indirect subsidies, monetary consist of relaxing cash-in-advance restrictions. An appropriate fiscal policy, together or not restore pre-shock situation. Monetary policy is reinforced presence monetary-transaction costs on consumption money-in-the-utility function.

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ژورنال

عنوان ژورنال: Economic change and restructuring

سال: 2023

ISSN: ['1574-0277', '1573-9414']

DOI: https://doi.org/10.1007/s10644-023-09486-9