Albertini, Julien; Poirier, Arthur; Roulleau-Pasdeloup, … - In: Economics Letters 122 (2014) 1, pp. 31-35
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 the government spending is productive, substitutable or not for private consumption.