A tail of three occasionally-binding constraints: a modelling approach to GDP-at-Risk

2021 ◽  
Author(s):  
David Aikman ◽  
Kristina Bluwstein ◽  
Sudipto Karmakar
2009 ◽  
Vol 6 (38) ◽  
pp. 811-814 ◽  
Author(s):  
Ken T. D. Eames

Clusters of unvaccinated individuals are at risk of outbreaks of infection. When an individual's decision to choose vaccination is influenced by the choices of his social group, such clusters can readily arise. However, when the interactions that influence decision-making and those that permit the transmission of infection are different—for instance, when parents make vaccination decisions on behalf of their children—it is unclear how large the impact of this social influence will be. Here we use a modelling approach to represent social influence within a network of parents and the transmission of infection through a network of children. We show that the effect of social influence depends on the amount of overlap between the two different networks; large overlap means that clusters of parents who choose not to vaccinate are likely to have interacting children, generating clusters of unvaccinated children. Spatially local connections can further increase the impact of social influence. Outbreaks are most likely when parents who do not vaccinate have children who interact.


2019 ◽  
Vol 34 (7) ◽  
pp. 1073-1085 ◽  
Author(s):  
Pablo Cuba‐Borda ◽  
Luca Guerrieri ◽  
Matteo Iacoviello ◽  
Molin Zhong

2020 ◽  
Vol 52 (7) ◽  
pp. 1691-1718 ◽  
Author(s):  
KRISTINA BLUWSTEIN ◽  
MICHAł BRZOZA‐BRZEZINA ◽  
PAOLO GELAIN ◽  
MARCIN KOLASA

2020 ◽  
Vol 254 ◽  
pp. R41-R53
Author(s):  
Jamie Rush

I assess a novel rule that was introduced in the UK in 2015. It gave the British government fiscal flexibility whenever GDP growth warranted it. This rule lasted just a year, but it had features worth exploring. I apply solution methods for models with occasionally-binding constraints to assess the demand stabilisation properties of state-contingent fiscal rules. First it is shown that fiscal flexibility can make recessions shallower. Second, it is suggested that GDP growth, rather than measures of the output gap, is a better indicator for triggering fiscal flexibility.


2021 ◽  
Author(s):  
S. Boragan Aruoba ◽  
Marko Mlikota ◽  
Frank Schorfheide ◽  
Sergio Villalvazo

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