Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/101025 
Erscheinungsjahr: 
2013
Schriftenreihe/Nr.: 
Working Paper No. 2013-13
Verlag: 
Federal Reserve Bank of Atlanta, Atlanta, GA
Zusammenfassung: 
Does fiscal policy have large and qualitatively different effects on the economy when the nominal interest rate is zero? An emerging consensus in the New Keynesian literature is that the answer is yes. New evidence provided here suggests that the answer is often no. For a broad range of empirically relevant parameterizations of the Rotemberg model of costly price adjustment, the government purchase multiplier is about one or less, and the response of hours to a tax cut is either negative or close to zero.
Schlagwörter: 
monetary policy
zero interest rate
fiscal multipliers
JEL: 
E5
E6
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
703.85 kB





Publikationen in EconStor sind urheberrechtlich geschützt.