Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/37523
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dc.contributor.authorMüller, Gernot J.en_US
dc.contributor.authorCorsetti, Giancarloen_US
dc.contributor.authorMeier, Andréen_US
dc.date.accessioned2010-08-11T09:10:36Z-
dc.date.available2010-08-11T09:10:36Z-
dc.date.issued2010en_US
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_US
dc.language.isoengen_US
dc.publisher|aVerein für Socialpolitik |cFrankfurt a. M.en_US
dc.relation.ispartofseries|aBeiträge zur Jahrestagung des Vereins für Socialpolitik 2010: Ökonomie der Familie - Session: Fiscal Policy in the Great Recession |xC3-V2en_US
dc.subject.jelE61en_US
dc.subject.jelE63en_US
dc.subject.jelF41en_US
dc.subject.ddc330en_US
dc.subject.keywordFiscal policy transmissionen_US
dc.subject.keywordconsumptionen_US
dc.subject.keywordreal exchange rateen_US
dc.subject.keywordreal interest ratesen_US
dc.subject.keywordsticky pricesen_US
dc.subject.keywordmonetary policyen_US
dc.titleFiscal Stimulus with Spending Reversalsen_US
dc.typeConference Paperen_US
dc.identifier.ppn654820457-
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-

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