Essay on secular stagnation
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...
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| Format: | masterThesis |
| Language: | eng |
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2015
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| Online Access: | http://hdl.handle.net/10362/15087 |
| Country: | Portugal |
| Oai: | oai:run.unl.pt:10362/15087 |