Vis enkel innførsel

dc.contributor.authorMehlum, Halvor
dc.contributor.authorTorvik, Ragnar
dc.date.accessioned2020-07-05T11:45:40Z
dc.date.available2020-07-05T11:45:40Z
dc.date.issued2020-06
dc.identifier.issn1892-2198
dc.identifier.urihttps://hdl.handle.net/11250/2660738
dc.description.abstractFor a developed market economies, the corona crisis is a new type of crisis, but this crisis has parallels to economies at other times, and to crises at other places. We discuss some mechanisms from the traditional macro literature, and from the literature on macroeconomics for developing countries, which contains economic mechanisms that overnight have also become more relevant to developed market economies. Phenomena such as bottlenecks, rationing, forced savings, production constrained by access to inputs, liquidity constraints, sector heterogeneity, and costs running despite production being shut down, are all permanent phenomena in developing countries. During the corona crisis, however, they have also emerged as key mechanisms in developed market economies. We discuss some of these well developed, but partially forgotten mechanisms, by extending simple textbook descriptions, and we provide some examples of how the effects of fiscal and monetary policy are modified in a time of crisis.en_US
dc.language.isoengen_US
dc.publisherBI Norwegian Business Schoolen_US
dc.relation.ispartofseriesCAMP Working Paper Series;04/2020
dc.titleMacroeconomics in the time of the Coronaen_US
dc.typeWorking paperen_US
dc.source.pagenumber21en_US


Tilhørende fil(er)

Thumbnail

Denne innførselen finnes i følgende samling(er)

Vis enkel innførsel