2014-02-19Buch DOI: 10.18452/4504
The composition of government spending and the multiplier at the Zero Lower Bound
We investigate the size of the multiplier at the ZLB in a New keynesian model. It ranges from around -0.25 to +1.5, depending on the extent to which government spending is productive, substitutable or not for private consumption.
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Is Part Of Series: Sonderforschungsbereich 649: Ökonomisches Risiko - 17, SFB 649 Papers, ISSN:1860-5664
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