Fiscal multipliers and policy coordination

This paper is about an economy in a liquidity trap that is an environment with a zero nominal interest rate deflationary pressures and subpar growth. The paper shows two fiscal policy multipliers in a relatively standard New Keynesian liquidity trap economy with taxation costs. It computes real gove...

Descripción completa

Guardado en:

Detalles Bibliográficos
Autor principal:	Eggertsson, Gauti B.
Formato:	Artículo
Lenguaje:	eng
Publicado:	Banco Central de Chile 2019
Materias:	POLÍTICA FISCAL LIQUIDEZ (ECONOMÍA) TASAS DE INTERÉS ECONOMÍA KEYNESIANA
Acceso en línea:	https://hdl.handle.net/20.500.12580/3892
Etiquetas:	Agregar Etiqueta Sin Etiquetas, Sea el primero en etiquetar este registro!

id	oai-20.500.12580-3892
record_format	dspace
spelling	oai-20.500.12580-38922021-04-24T11:16:55Z Fiscal multipliers and policy coordination Eggertsson, Gauti B. POLÍTICA FISCAL LIQUIDEZ (ECONOMÍA) TASAS DE INTERÉS ECONOMÍA KEYNESIANA This paper is about an economy in a liquidity trap that is an environment with a zero nominal interest rate deflationary pressures and subpar growth. The paper shows two fiscal policy multipliers in a relatively standard New Keynesian liquidity trap economy with taxation costs. It computes real government spending multiplier and the deficit spending multiplier. In line with recent literature it shows that the real government spending multiplier can be quite big. The deficit spending multiplier however can be either big or zero depending on the institutional arrangement. That is the main point of the paper. 2019-11-01T00:05:51Z 2019-11-01T00:05:51Z 2013 Artículo 978-956-7421-37-4 https://hdl.handle.net/20.500.12580/3892 eng Series on Central Banking Analysis and Economic Policies no. 17 Attribution-NonCommercial-NoDerivs 3.0 Chile http://creativecommons.org/licenses/by-nc-nd/3.0/cl/ .pdf Sección o Parte de un Documento p. 175-234 application/pdf Banco Central de Chile
institution	Banco Central
collection	Banco Central
language	eng
topic	POLÍTICA FISCAL LIQUIDEZ (ECONOMÍA) TASAS DE INTERÉS ECONOMÍA KEYNESIANA
spellingShingle	POLÍTICA FISCAL LIQUIDEZ (ECONOMÍA) TASAS DE INTERÉS ECONOMÍA KEYNESIANA Eggertsson, Gauti B. Fiscal multipliers and policy coordination
description	This paper is about an economy in a liquidity trap that is an environment with a zero nominal interest rate deflationary pressures and subpar growth. The paper shows two fiscal policy multipliers in a relatively standard New Keynesian liquidity trap economy with taxation costs. It computes real government spending multiplier and the deficit spending multiplier. In line with recent literature it shows that the real government spending multiplier can be quite big. The deficit spending multiplier however can be either big or zero depending on the institutional arrangement. That is the main point of the paper.
format	Artículo
author	Eggertsson, Gauti B.
author_facet	Eggertsson, Gauti B.
author_sort	Eggertsson, Gauti B.
title	Fiscal multipliers and policy coordination
title_short	Fiscal multipliers and policy coordination
title_full	Fiscal multipliers and policy coordination
title_fullStr	Fiscal multipliers and policy coordination
title_full_unstemmed	Fiscal multipliers and policy coordination
title_sort	fiscal multipliers and policy coordination
publisher	Banco Central de Chile
publishDate	2019
url	https://hdl.handle.net/20.500.12580/3892
work_keys_str_mv	AT eggertssongautib fiscalmultipliersandpolicycoordination
_version_	1718346595804643328

Fiscal multipliers and policy coordination

Ejemplares similares