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Czy szacując efekty polityki makroekonomicznej należy uwzględniać perspektywę planowania gospodarstw domowych?

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  • Krajewski, Piotr

Abstract

The aim of the study is to compare the effects of monetary and fiscal policy in a model with all-Ricardian households and a model taking into account non-Ricardians. The analysis is based on a medium-scale neo-Keynesian model that considers households with different planning horizons. The simulations show that taking into account non-Ricardian households decreases the impact of economic policy on GDP, while significantly increasing the effects of fiscal policy. Moreover, the model with heterogeneous households better fits empirical data and correctly predicts the impact of government spending on consumption.

Suggested Citation

  • Krajewski, Piotr, 2017. "Czy szacując efekty polityki makroekonomicznej należy uwzględniać perspektywę planowania gospodarstw domowych?," Gospodarka Narodowa-The Polish Journal of Economics, Szkoła Główna Handlowa w Warszawie / SGH Warsaw School of Economics, vol. 2017(4), August.
    • Handle: RePEc:ags:polgne:359132
    DOI: 10.22004/ag.econ.359132
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