Work detail

Lockdown Policies and Firms' Investments in a Two-Period Macroeconomic Model

Author: Bc. Tomáš Fencl
Year: 2022 - summer
Leaders: doc. PhDr. Martin Gregor Ph.D.
Consultants:
Work type: Bachelors
Language: English
Pages: 39
Awards and prizes:
Link: https://dspace.cuni.cz/handle/20.500.11956/175838
Abstract: 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
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