Automatic stabilizers?

Automatic stabilizers?

The effectiveness of “automatic stabilizers” is examined in a stochastic model similar to that of McCallum and Whitaker (1979), but where the “automatic stabilizers” are permitted to affect the elasticity of aggregate supply. These measures increase or decrease the variance of output for a closed ec...

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Veröffentlicht in:Journal of macroeconomics 1986, Vol.8 (1), p.43-54
1. Verfasser: Beare, John B.
Format: Artikel
Sprache:eng
Schlagworte:
Economic models
Economic stabilization
Mathematical analysis
Output
Stochastic models
Supply
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Beschreibung
Zusammenfassung:The effectiveness of “automatic stabilizers” is examined in a stochastic model similar to that of McCallum and Whitaker (1979), but where the “automatic stabilizers” are permitted to affect the elasticity of aggregate supply. These measures increase or decrease the variance of output for a closed economy, depending on the nature of the shocks to which it is subject, while for a small open economy these measures increase the variance of output.
ISSN:0164-0704
1873-152X
DOI:10.1016/0164-0704(86)90031-5