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Google圖書搜尋
Fiscal Policy and the Nominal Term Premium
Roman Horváth
Lorant Kaszab
Ales Marsal
其他書名
Fiskális Politika És a Hozam-kockázati Prémium
出版
Magyar Nemzeti Bank
, 2019
URL
http://books.google.com.hk/books?id=CMCezQEACAAJ&hl=&source=gbs_api
註釋
We estimate a New Keynesian model on post-war US data with generalised method of moments using either constant or time- varying debt and labor income taxes. We show that accounting for government debt and distortionary taxes help the New Keynesian model match the level of the nominal term premium with a lower relative risk-aversion than typically found in the literature.
