Lockdown Policies and Firms' Investments in a Two-Period Macroeconomic Model
| Autor: | Bc. Tomáš Fencl |
|---|---|
| Rok: | 2022 - letní |
| Vedoucí: | doc. PhDr. Martin Gregor Ph.D. |
| Konzultant: | |
| Typ práce: | Bakalářská |
| Jazyk: | Anglicky |
| Stránky: | 39 |
| Ocenění: | |
| Odkaz: | https://dspace.cuni.cz/handle/20.500.11956/175838 |
| Abstrakt: | Throughout the COVID-19 pandemic, the implementation of lockdown policies was often accompanied by some level of commitment toward its development or termination. This thesis introduces multiple gradually improving two-period macroeconomic models which induce a time inconsistency problem regarding the lockdown policy choice. The effect of the policymaker’s commitment is studied and analyzed as a possible solution to this problem. Aside from thoughts concerning directly the construction of the models, for instance, the reasoning behind its short-term nature or the importance of the shape of input functions, this thesis evaluates the policy commitment as an efficient tool. It further emphasizes the importance of the commitment’s credibility |
