Energy Shocks and Macroeconomic Stabilization Policies in an Agent-Based Macro Model
Energy Shocks and Macroeconomic Stabilization Policies in an Agent-Based Macro Model
复制标题
基于主体的宏观模型中的能源冲击和宏观经济稳定政策
DOI:
10.1007/978-3-642-16943-4_8
复制
发表时间:
2011
期刊:
影响因子:
--
通讯作者:
C. Deissenberg
中科院分区:
文献类型:
--
作者:
S. Hoog;C. Deissenberg
In this chapter we consider the effects of exogenous energy shocks on an agent-based macroeconomic system and study the out-of-equilibrium dynamics. We introduce automatic stabilizers that allow the artificial economy to absorbe the shocks. Two types of macroeconomic stabilization policies are implemented: a consumer subsidy scheme that compensates households for their loss in purchasing power, and a tax reduction scheme that affects both households and firms to support consumption and investments. Policy experiments are then carried out to evaluate the effectiveness of these macroeconomic policies. Finally, we are able to distinguish between short- and long-term effects of the policy measures.