Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/43234 
Erscheinungsjahr: 
2009
Schriftenreihe/Nr.: 
CFS Working Paper No. 2009/17
Verlag: 
Goethe University Frankfurt, Center for Financial Studies (CFS), Frankfurt a. M.
Zusammenfassung: 
Renewed 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.
Schlagwörter: 
Fiscal Multiplier
New Keynesian Model
Fiscal Stimulus
Government Spending
Macroeconomic Modeling
JEL: 
C52
E62
Persistent Identifier der Erstveröffentlichung: 
Dokumentart: 
Working Paper

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