Fiscal Policy And the Nominal Term Premium
نویسندگان
چکیده
Abstract We estimate a New Keynesian model on postwar U.S. data with the generalized method of moments using either constant or time‐varying debt and distortionary labor income taxes. show that accounting for government taxes help match level nominal term premium lower relative risk‐aversion than typically found in literature.
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ژورنال
عنوان ژورنال: Journal of Money, Credit and Banking
سال: 2021
ISSN: ['1538-4616', '0022-2879']
DOI: https://doi.org/10.1111/jmcb.12858