skip to content
Fiscal Policy Can Reduce Unemployment : But There is a Less Costly and More Effective Alternative Preview this item
ClosePreview this item
Checking...

Fiscal Policy Can Reduce Unemployment : But There is a Less Costly and More Effective Alternative

Author: Roger E A Farmer
Publisher: Cambridge, Mass. National Bureau of Economic Research 2009.
Series: Working paper series (National Bureau of Economic Research), no. w15021.
Edition/Format:   eBook : Document : EnglishView all editions and formats
Summary:
This paper uses a model with a continuum of equilibrium steady state unemployment rates to explore the effectiveness of fiscal policy. The existence of multiple steady state equilibria is explained by the presence of search and recruiting costs. I use the model to explain the current financial crisis as a shift to a high unemployment equilibrium, induced by the self-fulfilling beliefs of market participants about  Read more...
Rating:

(not yet rated) 0 with reviews - Be the first.

Subjects
More like this

Find a copy online

Find a copy in the library

&AllPage.SpinnerRetrieving; Finding libraries that hold this item...

Details

Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Roger E A Farmer
OCLC Number: 1027350339
Notes: May 2009.
Description: 1 online resource.
Details: Mode of access: World Wide Web.
Series Title: Working paper series (National Bureau of Economic Research), no. w15021.
Responsibility: Roger E. A. Farmer.

Abstract:

This paper uses a model with a continuum of equilibrium steady state unemployment rates to explore the effectiveness of fiscal policy. The existence of multiple steady state equilibria is explained by the presence of search and recruiting costs. I use the model to explain the current financial crisis as a shift to a high unemployment equilibrium, induced by the self-fulfilling beliefs of market participants about asset prices. I ask two questions. 1) Can fiscal policy help us out of the crisis? 2) Is there an alternative to fiscal policy that is less costly and more effective? The answer to both questions is yes.

Reviews

User-contributed reviews
Retrieving GoodReads reviews...
Retrieving DOGObooks reviews...

Tags

Be the first.
Confirm this request

You may have already requested this item. Please select Ok if you would like to proceed with this request anyway.

Linked Data


Primary Entity

<http://www.worldcat.org/oclc/1027350339> # Fiscal Policy Can Reduce Unemployment But There is a Less Costly and More Effective Alternative
    a schema:CreativeWork, schema:MediaObject, schema:Book ;
    library:oclcnum "1027350339" ;
    library:placeOfPublication <http://experiment.worldcat.org/entity/work/data/256590310#Place/cambridge_mass> ; # Cambridge, Mass.
    library:placeOfPublication <http://id.loc.gov/vocabulary/countries/mau> ;
    schema:about <http://experiment.worldcat.org/entity/work/data/256590310#Topic/e24_employment_unemployment_wages_intergenerational_income_distribution_aggregate_human_capital> ; # E24 - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital
    schema:about <http://experiment.worldcat.org/entity/work/data/256590310#Topic/fiscal_policy> ; # Fiscal policy
    schema:about <http://experiment.worldcat.org/entity/work/data/256590310#Topic/unemployment_econometric_models> ; # Unemployment--Econometric models
    schema:about <http://experiment.worldcat.org/entity/work/data/256590310#Topic/e2_macroeconomics_consumption_saving_production_employment_and_investment> ; # E2 - Macroeconomics: Consumption, Saving, Production, Employment, and Investment
    schema:about <http://experiment.worldcat.org/entity/work/data/256590310#Topic/unemployment_government_policy> ; # Unemployment--Government policy
    schema:bookFormat schema:EBook ;
    schema:creator <http://experiment.worldcat.org/entity/work/data/256590310#Person/farmer_roger_e_a> ; # Roger E. A. Farmer
    schema:datePublished "2009" ;
    schema:description "This paper uses a model with a continuum of equilibrium steady state unemployment rates to explore the effectiveness of fiscal policy. The existence of multiple steady state equilibria is explained by the presence of search and recruiting costs. I use the model to explain the current financial crisis as a shift to a high unemployment equilibrium, induced by the self-fulfilling beliefs of market participants about asset prices. I ask two questions. 1) Can fiscal policy help us out of the crisis? 2) Is there an alternative to fiscal policy that is less costly and more effective? The answer to both questions is yes."@en ;
    schema:exampleOfWork <http://worldcat.org/entity/work/id/256590310> ;
    schema:inLanguage "en" ;
    schema:isPartOf <http://experiment.worldcat.org/entity/work/data/256590310#Series/nber_working_paper_series> ; # NBER working paper series
    schema:isPartOf <http://experiment.worldcat.org/entity/work/data/256590310#Series/working_paper_series_national_bureau_of_economic_research> ; # Working paper series (National Bureau of Economic Research) ;
    schema:name "Fiscal Policy Can Reduce Unemployment But There is a Less Costly and More Effective Alternative"@en ;
    schema:productID "1027350339" ;
    schema:publication <http://www.worldcat.org/title/-/oclc/1027350339#PublicationEvent/cambridge_mass_national_bureau_of_economic_research2009> ;
    schema:publisher <http://experiment.worldcat.org/entity/work/data/256590310#Agent/national_bureau_of_economic_research> ; # National Bureau of Economic Research
    schema:url <http://www.nber.org/papers/w15021> ;
    schema:url <http://papers.nber.org/papers/w15021> ;
    wdrs:describedby <http://www.worldcat.org/title/-/oclc/1027350339> ;
    .


Related Entities

<http://experiment.worldcat.org/entity/work/data/256590310#Agent/national_bureau_of_economic_research> # National Bureau of Economic Research
    a bgn:Agent ;
    schema:name "National Bureau of Economic Research" ;
    .

<http://experiment.worldcat.org/entity/work/data/256590310#Person/farmer_roger_e_a> # Roger E. A. Farmer
    a schema:Person ;
    schema:familyName "Farmer" ;
    schema:givenName "Roger E. A." ;
    schema:name "Roger E. A. Farmer" ;
    .

<http://experiment.worldcat.org/entity/work/data/256590310#Place/cambridge_mass> # Cambridge, Mass.
    a schema:Place ;
    schema:name "Cambridge, Mass." ;
    .

<http://experiment.worldcat.org/entity/work/data/256590310#Series/nber_working_paper_series> # NBER working paper series
    a bgn:PublicationSeries ;
    schema:hasPart <http://www.worldcat.org/oclc/1027350339> ; # Fiscal Policy Can Reduce Unemployment But There is a Less Costly and More Effective Alternative
    schema:name "NBER working paper series" ;
    .

<http://experiment.worldcat.org/entity/work/data/256590310#Series/working_paper_series_national_bureau_of_economic_research> # Working paper series (National Bureau of Economic Research) ;
    a bgn:PublicationSeries ;
    schema:hasPart <http://www.worldcat.org/oclc/1027350339> ; # Fiscal Policy Can Reduce Unemployment But There is a Less Costly and More Effective Alternative
    schema:name "Working paper series (National Bureau of Economic Research) ;" ;
    .

<http://experiment.worldcat.org/entity/work/data/256590310#Topic/e2_macroeconomics_consumption_saving_production_employment_and_investment> # E2 - Macroeconomics: Consumption, Saving, Production, Employment, and Investment
    a schema:Intangible ;
    schema:name "E2 - Macroeconomics: Consumption, Saving, Production, Employment, and Investment"@en ;
    .

<http://experiment.worldcat.org/entity/work/data/256590310#Topic/e24_employment_unemployment_wages_intergenerational_income_distribution_aggregate_human_capital> # E24 - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital
    a schema:Intangible ;
    schema:name "E24 - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital"@en ;
    .

<http://experiment.worldcat.org/entity/work/data/256590310#Topic/unemployment_econometric_models> # Unemployment--Econometric models
    a schema:Intangible ;
    schema:name "Unemployment--Econometric models"@en ;
    .

<http://experiment.worldcat.org/entity/work/data/256590310#Topic/unemployment_government_policy> # Unemployment--Government policy
    a schema:Intangible ;
    schema:name "Unemployment--Government policy"@en ;
    .

<http://www.worldcat.org/title/-/oclc/1027350339>
    a genont:InformationResource, genont:ContentTypeGenericResource ;
    schema:about <http://www.worldcat.org/oclc/1027350339> ; # Fiscal Policy Can Reduce Unemployment But There is a Less Costly and More Effective Alternative
    schema:dateModified "2019-09-15" ;
    void:inDataset <http://purl.oclc.org/dataset/WorldCat> ;
    .


Content-negotiable representations

Close Window

Please sign in to WorldCat 

Don't have an account? You can easily create a free account.