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dc.contributor.authorCogan, John F.en_US
dc.contributor.authorCwik, Tobias J.en_US
dc.contributor.authorTaylor, John B.en_US
dc.contributor.authorWieland, Volkeren_US
dc.date.accessioned2009-10-21en_US
dc.date.accessioned2010-12-15T09:22:14Z-
dc.date.available2010-12-15T09:22:14Z-
dc.date.issued2009en_US
dc.identifier.piurn:nbn:de:hebis:30-68369-
dc.identifier.urihttp://hdl.handle.net/10419/43234-
dc.description.abstractRenewed interest in fiscal policy has increased the use of quantitative models to evaluate policy. Because of modeling uncertainty, it is essential that policy evaluations be robust to alternative assumptions. We find that models currently being used in practice to evaluate fiscal policy stimulus proposals are not robust. Government spending multipliers in an alternative empirically-estimated and widely-cited new Keynesian model are much smaller than in these old Keynesian models; the estimated stimulus is extremely small with GDP and employment effects only one-sixth as large.en_US
dc.language.isoengen_US
dc.publisherCenter for Financial Studies Frankfurt, Mainen_US
dc.relation.ispartofseriesCFS Working Paper 2009/17en_US
dc.subject.jelC52en_US
dc.subject.jelE62en_US
dc.subject.ddc330en_US
dc.subject.keywordFiscal Multiplieren_US
dc.subject.keywordNew Keynesian Modelen_US
dc.subject.keywordFiscal Stimulusen_US
dc.subject.keywordGovernment Spendingen_US
dc.subject.keywordMacroeconomic Modelingen_US
dc.subject.stwFinanzpolitiken_US
dc.subject.stwÖffentliche Ausgabenen_US
dc.subject.stwKeynesianismusen_US
dc.subject.stwMultiplikatoren_US
dc.subject.stwSchätzungen_US
dc.subject.stwUSAen_US
dc.titleNew Keynesian versus old Keynesian government spending multipliersen_US
dc.typeWorking Paperen_US
dc.identifier.ppn610756397en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
dc.identifier.repecRePEc:zbw:cfswop:200917-
Appears in Collections:CFS Working Paper Series, Universität Frankfurt a. M.

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