题目: Keeping up with the Joneses and Fiscal Puzzles

主讲人：薛涧坡 (厦门大学)

时间：2025年4月9日 上午10:30 – 12:00

地点：承泽园344教室

摘要：The Great Recession has revived great interest in the effects of expansionary fiscal measures and in social comparison relevant for private decision. We make two contributions in this paper linking these two interests. First, we establish three empirical regularities concerning the impacts of an unanticipated government spending hike: (1) private consumption tends to rise, (2) price and inflation tend to fall, and (3) these quantity and price responses are unlikely driven by the shock’s impact (if any) on total factor productivity (TFP). Second, we construct and estimate a structural model allowing social comparison in household decision-making à là the notion of Keeping up with the Joneses (KUJ) that accounts for these empirical regularities.

主讲人简介：Dr. Jianpo Xue is the vice dean of the Paula and Gregory Chow Institute for Studies in Economics, and a Professor at WISE and School of Economics, Xiamen University. His main research interests are in macroeconomics with the focus on fiscal policy, economic growth, monetary economics, and Chinese economy. His research has been published in the refereed journals as Journal of International Economics, Journal of Money, Credit and Banking, Journal of Economic Dynamics and Control, Economic Theory, Journal of Mathematical Economics, Review of Economic Dynamics, etc. Now, he also serves as the associate editor of Journal of Macroeconomics.