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題名 Markups, inequality and monetary-fiscal policies
作者 朱琇妍
Chu, Shiou-Yen
貢獻者 財政系
關鍵詞 collateral constraint; consumption inequality; nominal rigidity; DSGE
日期 2022-09
上傳時間 6-Jul-2022 15:32:55 (UTC+8)
摘要 This paper reexamines the cyclical behaviors of price markup, profits, and labor share when responding to monetary and fiscal policy shocks in a two-agent, two-branch, and two-sector model. We show that this framework is able to generate procyclical price markup and profits, and countercyclical labor share conditional on expansionary policy shocks. These results are in line with empirical evidences but at odds with the prediction of canonical New Keynesian models. As the share of nondurables in total production decreases, the results reverse. This finding implies expansionary monetary and fiscal policies widen the income inequality between Ricardian households and collateral-constrained households.
關聯 Scottish Journal of Political Economy, Vol.69, No.4, pp.367-395
資料類型 article
DOI https://doi.org/10.1111/sjpe.12312
dc.contributor 財政系-
dc.creator (作者) 朱琇妍-
dc.creator (作者) Chu, Shiou-Yen-
dc.date (日期) 2022-09-
dc.date.accessioned 6-Jul-2022 15:32:55 (UTC+8)-
dc.date.available 6-Jul-2022 15:32:55 (UTC+8)-
dc.date.issued (上傳時間) 6-Jul-2022 15:32:55 (UTC+8)-
dc.identifier.uri (URI) http://nccur.lib.nccu.edu.tw/handle/140.119/140807-
dc.description.abstract (摘要) This paper reexamines the cyclical behaviors of price markup, profits, and labor share when responding to monetary and fiscal policy shocks in a two-agent, two-branch, and two-sector model. We show that this framework is able to generate procyclical price markup and profits, and countercyclical labor share conditional on expansionary policy shocks. These results are in line with empirical evidences but at odds with the prediction of canonical New Keynesian models. As the share of nondurables in total production decreases, the results reverse. This finding implies expansionary monetary and fiscal policies widen the income inequality between Ricardian households and collateral-constrained households.-
dc.format.extent 98 bytes-
dc.format.mimetype text/html-
dc.relation (關聯) Scottish Journal of Political Economy, Vol.69, No.4, pp.367-395-
dc.subject (關鍵詞) collateral constraint; consumption inequality; nominal rigidity; DSGE-
dc.title (題名) Markups, inequality and monetary-fiscal policies-
dc.type (資料類型) article-
dc.identifier.doi (DOI) 10.1111/sjpe.12312-
dc.doi.uri (DOI) https://doi.org/10.1111/sjpe.12312-