The composition of government spending and the multiplier at the Zero Lower Bound
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.
|Place of publication:||
Berlin SFB 649, Economic Risk 2014
|Data of publication:||2014|
SFB 649 discussion paper
|Online Access:||available in Bonn?|
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