Title of article
Robustpolicymakinginthefaceofsuddenstops
Author/Authors
Eric R.Young، نويسنده ,
Issue Information
روزنامه با شماره پیاپی سال 2012
Pages
16
From page
512
To page
527
Abstract
This paperconsiderstaxpoliciestodealwithSuddenStops–declinesinaggregate
activitythataremagnifiedbyabindingcollateralconstraint–thatoccasionallyoccurin
emergingmarketeconomies.Householdsand/orthegovernmentareassumedtoface
model uncertaintyanddesirerobustnessagainstalternativemodels.Welfaregainsfrom
optimaltaxationaresmallifthegovernmenttrustsitsmodelofhouseholdexpectations,
whetherthoseexpectationsarealteredbymodeluncertaintyornot;incontrast,welfare
lossesarelargeifthegovernmentisuncertainaboutthehousehold’sprobabilitymodel
Journal title
Journal of Monetary Economics
Serial Year
2012
Journal title
Journal of Monetary Economics
Record number
846539
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