This paper investigates the role of fiscal and monetary shocks in the occurrence of deflationary recessions. Our model is based on a temporary equilibrium approach with stochastic rationing, where inventory dynamics is explicitly taken into account, amplifying spillover effects between markets. This setting allows us to study the driving forces behind disequilibrium phenomena, and to investigate the efficacy of alternative policies in overcoming them. In particular, we provide for an application of our approach to the study of the Japanese deflationary recession.
Colombo, L. V. A., Weinrich, G., Deflationary Recessions in a General-Equilibrium Framework, in Namatame, A., Kaizouji, T., Aruka, Y. (ed.), The Complex Networks of Economic Interactions, Springer, Berlin, Heidelberg 2006: <<LECTURE NOTES IN ECONOMICS AND MATHEMATICAL SYSTEMS>>, 125- 138 [http://hdl.handle.net/10807/25668]
Autori: | |
Titolo: | Deflationary Recessions in a General-Equilibrium Framework |
Data di pubblicazione: | 2006 |
Abstract: | This paper investigates the role of fiscal and monetary shocks in the occurrence of deflationary recessions. Our model is based on a temporary equilibrium approach with stochastic rationing, where inventory dynamics is explicitly taken into account, amplifying spillover effects between markets. This setting allows us to study the driving forces behind disequilibrium phenomena, and to investigate the efficacy of alternative policies in overcoming them. In particular, we provide for an application of our approach to the study of the Japanese deflationary recession. |
Lingua: | Inglese |
Titolo del libro: | The Complex Networks of Economic Interactions |
Editore: | Springer |
ISBN: | 3-540-28726-4 |
Serie: | |
Citazione: | Colombo, L. V. A., Weinrich, G., Deflationary Recessions in a General-Equilibrium Framework, in Namatame, A., Kaizouji, T., Aruka, Y. (ed.), The Complex Networks of Economic Interactions, Springer, Berlin, Heidelberg 2006: <<LECTURE NOTES IN ECONOMICS AND MATHEMATICAL SYSTEMS>>, 125- 138 [http://hdl.handle.net/10807/25668] |
Appare nelle tipologie: | In libro con curatela: Capitolo o saggio; Prefazione/Postfazione; Breve introduzione; Schede di catalogo, repertorio o corpus |