FISCAL POLICY IN A DYNAMIC OPEN-ECONOMY NEW-KEYNESIAN MODEL

Partha Sen
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Partha Sen: Delhi School of Economics

No 30, Working papers from Centre for Development Economics, Delhi School of Economics

Abstract: A two sector open economy model is set up in an uncertain lifetime’s framework. One of the sectors is monopolistically competitive. It is shown that the balanced budget fiscal expansion increases steady state welfare of the representative individual and also along the transition path.

Keywords: Fiscal policy; Uncertain Lifetimes; New Keynesian Models; Monopolistic competition (search for similar items in EconPapers)
Pages: 24 pages
Date: 1995-06
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