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dc.contributor.authorMüller, Gernot J.en
dc.contributor.authorCorsetti, Giancarloen
dc.contributor.authorMeier, Andréen
dc.date.accessioned2010-08-11T09:10:36Z-
dc.date.available2010-08-11T09:10:36Z-
dc.date.issued2010-
dc.identifier.urihttp://hdl.handle.net/10419/37523-
dc.description.abstractThe impact of fiscal stimulus depends not only on short-term tax and spending policies, but also on expectations about offsetting measures in the future. This paper analyzes the effects of an increase in government spending under a plausible debt-stabilizing policy that systematically reduces spending below trend over time, in response to rising public liabilities. Accounting for such spending reversals brings an otherwise standard new Keynesian model in line with the stylized facts of fiscal transmission, including the crowding-in of consumption and the 'puzzle' of real exchange rate depreciation. Time series evidence for the U.S. supports the empirical relevance of endogenous spending reversals.en
dc.language.isoengen
dc.publisher|aVerein für Socialpolitik |cFrankfurt a. M.en
dc.relation.ispartofseries|aBeiträge zur Jahrestagung des Vereins für Socialpolitik 2010: Ökonomie der Familie - Session: Fiscal Policy in the Great Recession |xC3-V2en
dc.subject.jelE61en
dc.subject.jelE63en
dc.subject.jelF41en
dc.subject.ddc330en
dc.subject.keywordFiscal policy transmissionen
dc.subject.keywordconsumptionen
dc.subject.keywordreal exchange rateen
dc.subject.keywordreal interest ratesen
dc.subject.keywordsticky pricesen
dc.subject.keywordmonetary policyen
dc.titleFiscal Stimulus with Spending Reversals-
dc.typeConference Paperen
dc.identifier.ppn654820457en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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