Detail práce

Rule-of-thumb consumers in the New Keynesian framework

Autor: Mgr. Tomáš Adam
Rok: 2011 - letní
Vedoucí: PhDr. Jaromír Baxa Ph.D.
Konzultant:
Typ práce: Diplomová
Ekonomická teorie
Jazyk: Anglicky
Stránky: 96
Ocenění: Pochvala děkana Fakulty sociálních věd za vynikající výkon u státních zkoušek a za vynikající diplomovou práci.
Odkaz:
Abstrakt: This thesis investigates the effects of government spending
on aggregate economic variables in the Czech Republic.
The standard RBC and New Keynesian models assume only
forward-looking households despite the evidence of a significant
fraction of non-optimizing households. These models
do not provide reasonable predictions for the response of
consumption: both models predict its fall following a government
spending shock. Therefore, a variant of the New
Keynesian model, where rule-of-thumb households coexist
with optimizing households, is used for the analysis.
We have found that fiscal policy has a positive impact on
output, although government spending multiplier does not
exceed one. Also, the impact on consumption is positive for
several periods following a fiscal spending shock, which is
consistent with the evidence.
Ke stažení: Diplomová práce Adama

Partneři

ČSOB
Deloitte
McKinsey & Company

Sponzoři

CRIF