Albertini, Julien Poirier, Arthur Roulleau-Pasdeloup, Jordan
Year of Publication:
SFB 649 Discussion Paper 2014-017
We investigate the size of the multiplier at the ZLB in a New keynesian model. It ranges from around -0.25 to +1.5, depending on the extent to which government spending is productive, substitutable or not for private consumption.
Zero lower bound New Keynesian Government spending multiplier