On Persistent Demand Shortages: A Behavioral Approach
On Persistent Demand Shortages: A Behavioral Approach
复制标题
关于持续的需求短缺：行为方法
DOI：
10.1111/jere.12016
复制
发表时间：
2013
影响因子：
1.2
通讯作者：
Yoshiyasu Ono
中科院分区：
文献类型：
--
作者：
Junichiro Ishida;Yoshiyasu Ono
我们将两套行为假设，公平的关注和贪得无厌的金钱欲望，到一个动态优化模型，以说明他们如何能够产生持续的总需求短缺。我们得到了持续性失业和暂时性失业的条件。这两种情况的政策含义大不相同。货币扩张在暂时失业的情况下提高了私人消费，但在持续失业的情况下却没有。财政扩张可能会也可能不会增加短期私人消费，但会在暂时失业的情况下挤出长期消费。然而，在持续失业的情况下，财政扩张总是会增加私人消费。“辛劳和灵活性的矛盾”也出现了。
We incorporate two sets of behavioural assumptions, fairness concerns and insatiable desire for money, into a dynamic optimization model to illuminate how they can generate persistent aggregate demand shortages. We obtain the conditions for persistent unemployment and temporary unemployment. Policy implications differ significantly between the two cases. A monetary expansion raises private consumption under temporary unemployment but not under persistent unemployment. A fiscal expansion may or may not increase short-run private consumption but crowds out long-run consumption under temporary unemployment. Under persistent unemployment, however, a fiscal expansion always increases private consumption. The “paradoxes of toil and flexibility” also appear.