Browsing Sonderforschungsbereich 649: Ökonomisches Risiko by Author "Roulleau-Pasdeloup, Jordan"

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2014-02-19Diskussionspapier

The composition of government spending and the multiplier at the Zero Lower Bound

Albertini, Julien; Poirier, Arthur; Roulleau-Pasdeloup, Jordan

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.