Publication
Diffusion Dynamics in Economics: an Application to the Effects of Fiscal Policy
| dc.contributor.author | Gomes, Orlando | |
| dc.date.accessioned | 2017-04-04T10:46:26Z | |
| dc.date.available | 2017-04-04T10:46:26Z | |
| dc.date.issued | 2014 | |
| dc.description.abstract | This study addresses diffusion dynamics in an economic environment in which fiscal policy changes take place. The discussion, based upon a conventional intertemporal optimization setup, involves the consideration of a peculiar form of bounded rationality: it is assumed that only a small share of house- holds is able to instantly recompute the optimal solution once the value of a tax rate is disturbed; all the other agents will then, gradually, follow the behavior of thefirst group (this can occur through contagion, social influence or social learning). As a result, the convergence towards the post-perturbation steady-state tends to follow a diffusion process and, consequently, policy measures may take time in affecting pervasively labor-leisure and consumption-savings choices. | pt_PT |
| dc.description.version | info:eu-repo/semantics/publishedVersion | pt_PT |
| dc.identifier.citation | Gomes, O. (2014). “Diffusion Dynamics in Economics: an Application to the Effects of Fiscal Policy.” in A.A. Pinto and D. Zilberman (eds.), Modeling, Dynamics, Optimization and Bioeconomics I, Springer Proceedings in Mathematics & Statistics, series volume 73, Springer International Publishing, chapter 19, pp. 305-328. | pt_PT |
| dc.identifier.uri | http://hdl.handle.net/10400.21/6906 | |
| dc.language.iso | eng | pt_PT |
| dc.peerreviewed | yes | pt_PT |
| dc.subject | Fiscal policy, Diffusion processes, Utility maximization, Labor- leisure choices. | pt_PT |
| dc.title | Diffusion Dynamics in Economics: an Application to the Effects of Fiscal Policy | pt_PT |
| dc.type | book part | |
| dspace.entity.type | Publication | |
| oaire.citation.endPage | 328 | pt_PT |
| oaire.citation.startPage | 305 | pt_PT |
| person.familyName | Gomes | |
| person.givenName | Orlando | |
| person.identifier.orcid | 0000-0001-6324-7594 | |
| rcaap.rights | openAccess | pt_PT |
| rcaap.type | bookPart | pt_PT |
| relation.isAuthorOfPublication | d875b202-226d-48f2-bc40-570c6a58758f | |
| relation.isAuthorOfPublication.latestForDiscovery | d875b202-226d-48f2-bc40-570c6a58758f |