[표지]
Abstract
목차
1. Introduction 4
2. Simple Model and Redistribution Policy 10
2.1. Model 10
2.1.1. Households 10
2.1.2. Firm 11
2.1.3. Government 11
2.1.4. Aggregation and the Resource Constraint 12
2.2. Effects of Redistribution Policy 12
2.2.1. Output and Consumption 13
2.2.2. Inflation 14
2.3. Summary and an Extension to Nominal Rigidities 18
3. Quantitative Model and COVID Application 20
3.1. Model 20
3.1.1. Ricardian Sector 20
3.1.2. Hand-to-Mouth Sector 21
3.1.3. Government 22
3.1.4. Market Clearing, Aggregation, Resource Constraints 23
3.2. Data and Calibration 24
3.3. Quantitative Results 26
3.3.1. Dynamic Effects of Transfer Policy 26
3.3.2. Transfer Multipliers 29
3.3.3. Welfare Effects of Transfer Policy 30
3.4. Extensions and Sensitivity Analysis 32
3.4.1. Inspecting the Mechanisms of Transfer Multipliers 33
3.4.2. Alternative Calibrations 36
3.4.3. Sensitivity Analysis 37
4. Conclusion 39
References 40
APPENDIX 43
A. Data Appendix 43
B. Appendix TabIes and Figures 44
판권기 52
[뒷표지] 53