Now showing items 1-3 of 3

    • Fiscal Policy in an Unemployment Crisis 

      Rendahl, Pontus (Oxford University Press, 2016-02-22)
      This article shows that equilibrium unemployment dynamics can significantly increase the efficacy of fiscal policy. In response to a shock that brings the economy into a liquidity trap, an expansion in government spending ...
    • Fiscal Policy in an Unemployment Crisis 

      Rendahl, Pontus (Faculty of Economics, University of Cambridge, UK, 2012-02-28)
      This paper argues that the effectiveness of fiscal policy may increase markedly during periods of low nominal interest rates and high, persistent, unemployment. An increase in government spending boosts economic activity ...
    • Inequality Constraints and Euler Equation Based Solution Methods 

      Rendahl, Pontus (Faculty of Economics, University of Cambridge, 2013-05-30)
      Solving dynamic models with inequality constraints poses a challenging problem for two major reasons: dynamic programming techniques are reliable but often slow, while Euler equation based methods are fast but have ...