Browsing by Author "Machado, Caio Henrique"
Now showing items 1-5 of 5
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Coordination failures in business cycles
2017-05-11Coordination failures are often said to play an important role in business cycles. If agents’ incentives of taking a given action depend on the amount of other agents expected to take the same action, coordination failures ... -
Demand expectations and the timing of stimulus policies
2015-03-16This paper proposes a simple macroeconomic model with staggered investment decisions. The model captures the dynamic coordination problem arising from demand externalities and fixed costs of investment. In times of low ... -
Dynamic coordination with timing frictions: theory and applications
2017We start by presenting the general model of dynamic coordination with timing frictions and some key theoretical results. We prove the model features a unique rationalizable equilibrium, present a method to solve the social ... -
Low expectations, low demand: when should the government intervene?
2013-03-05Este trabalho estuda o impacto de diferentes políticas que procuram mitigar falhas de coordenação em um ambiente macroeconômico. Abordamos questões relativas ao timing dos estímulos econômicos. Quando o governo deveria ... -
A model of the confidence channel of fiscal policy
2016-10This article presents a simple macroeconomic model where government spending affects aggregate demand directly and indirectly, through an expectational channel. Prices are fully flexible and the model is static, so ...
