Fiscal multipliers and policy coordination

dc.contributor.author	Eggertsson, Gauti B.
dc.date.accessioned	2019-11-01T00:05:51Z
dc.date.available	2019-11-01T00:05:51Z
dc.date.issued	2013
dc.identifier.isbn	978-956-7421-37-4
dc.identifier.uri	https://hdl.handle.net/20.500.12580/3892
dc.description	This paper is about an economy in a liquidity trap that is an environment with a zero nominal interest rate deflationary pressures and subpar growth. The paper shows two fiscal policy multipliers in a relatively standard New Keynesian liquidity trap economy with taxation costs. It computes real government spending multiplier and the deficit spending multiplier. In line with recent literature it shows that the real government spending multiplier can be quite big. The deficit spending multiplier however can be either big or zero depending on the institutional arrangement. That is the main point of the paper.
dc.format	.pdf
dc.format.extent	Sección o Parte de un Documento
dc.format.medium	p. 175-234
dc.language.iso	eng
dc.publisher	Banco Central de Chile
dc.relation.ispartof	Series on Central Banking Analysis and Economic Policies no. 17
dc.rights	Attribution-NonCommercial-NoDerivs 3.0 Chile	*
dc.rights.uri	http://creativecommons.org/licenses/by-nc-nd/3.0/cl/	*
dc.subject	POLÍTICA FISCAL	es_ES
dc.subject	LIQUIDEZ (ECONOMÍA)	es_ES
dc.subject	TASAS DE INTERÉS	es_ES
dc.subject	ECONOMÍA KEYNESIANA	es_ES
dc.title	Fiscal multipliers and policy coordination
dc.type.doc	Artículo
dc.file.name	BCCh-sbc-v17-p175_234

Except where otherwise noted, this item's license is described as Attribution-NonCommercial-NoDerivs 3.0 Chile