主题：The
Welfare and Distributional Effects of Fiscal Uncertainty: a Quantitative
Evaluation（福利与财政不确定性分配效应的定量评估）
主讲人：白金辉，华盛顿州立大学经济学副教授
日期：2015年11月27日（周五）
时间：上午10:00-11:30
地点：德州扑克大小
金融德州扑克大小
4号楼102教室
语言：英文
摘要：
This study
explores the welfare and distributional effects of fiscal uncertainty using a
neoclassical stochastic growth model with incomplete markets. In our model,
households face uninsurable idiosyncratic risks in their labor income and
discount factor processes, and we allow aggregate uncertainty to arise from
both productivity and government purchases shocks. We calibrate our model to
key features of the U.S. economy, before eliminating government purchases
shocks. We then evaluate the distributional consequences of the elimination of fiscal
uncertainty and find that, in our baseline case, welfare gains decline with
private wealth holdings.
主讲人简介:
Jinhui Bai is the Associate Professor of Finance at School of Economics Sciences, Washington State University. He
received a B.A. from Renmin University of China in 1998, and a M.A. in
Economics from Peking and a Ph.D. in Economics from Yale University. His
research fields are macroeconomics and political economy and economics theory.
His papers have appeared in Review of
Economic Studies, International
Economic Review, Review of
Economic Dynamics and other leading economic journals.
