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Delayed Taxation and Macroeconomic Stability: A Dynamic IS–LM Model with Memory Effects

This study develops a dynamic IS-LM macroeconomic model that incorporates delayed taxation and a memory-dependent income effect, and calibrates it to quarterly data for Romania (2000–2023). Within this framework, fiscal policy lags are modelled using a “memory” income variable that weights past inco...

Ausführliche Beschreibung

Gespeichert in:
Hauptverfasser: Ciprian Panzaru, Sorin Belea, Laura Jianu
Format: Artigo
Sprache:Inglês
Veröffentlicht: MDPI AG 2025-07-01
Schriftenreihe:Economies
Schlagworte:
dynamic IS-LM model
taxation
memory income
time delay
bifurcation
macroeconomic stability
Online-Zugang:https://www.mdpi.com/2227-7099/13/7/208
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