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Are government spending multipliers greater during periods of slack? : evidence from 20th century historical data
Owyang, Michael T.; Ramey, Valerie A.; Zubairy, Sarah - 2013
Persistent link: https://www.econbiz.de/10009687815
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Hopf bifurcation from new-Keynesian Taylor rule to Ramsey optimal policy
Chatelain, Jean-Bernard; Ralf, Kirsten - 2017
This paper compares different implementations of monetary policy in a new-Keynesian setting. We can show that a shift from Ramsey optimal policy under short-term commitment (based on a negative feedback mechanism) to a Taylor rule (based on a positive feedback mechanism) corresponds to a Hopf...
Persistent link: https://www.econbiz.de/10011695130
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A model of secular stagnation : theory and quantitative evaluation
Eggertsson, Gauti B.; Mehrotra, Neil R.; Robbins, Jacob A. - 2017 - This version: April 14, 2017
Persistent link: https://www.econbiz.de/10011788757
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Exchange rates and monetary policy with heterogeneous agents : sizing up the real income channel
Auclert, Adrien; Rognlie, Matthew; Souchier, Martin; … - 2021
spending. When the sum of import and export elasticities is one, this channel is offset by a larger Keynesian multiplier …
Persistent link: https://www.econbiz.de/10012588278
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The local effects of monetary policy
Francis, Neville; Owyang, Michael T.; Sekhposyan, Tatevik - 2009
Persistent link: https://www.econbiz.de/10003882881
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Taylor-type rules and permanent shifts in productivity growth
Gavin, William T.; Keen, Benjamin D.; Pakko, Michael Robert - 2009
Persistent link: https://www.econbiz.de/10003884010
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Interest rate pass-through, monetary policy rules and macroeconomic stability
Kwapil, Claudia; Scharler, Johann - 2006
Persistent link: https://www.econbiz.de/10003318701
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Interest rate pass-through, monetary policy rules and macroeconomic stability
Kwapil, Claudia (contributor); Scharler, Johann (contributor) - 2006
Persistent link: https://www.econbiz.de/10003367515
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Sticky wages, monetary policy and fiscal policy multipliers
Dupor, Bill; Li, Rong; Li, Jingchao - 2017
This paper demonstrates how adding nominal wage rigidity to a standard sticky price model can create a mechanism by which increases in government spending cause increases in consumption. The increase in output arising from government purchases puts upward pressure on the price level. At a fixed...
Persistent link: https://www.econbiz.de/10011691001
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Regional consumption responses and the aggregate fiscal multiplier
Dupor, Bill; Karabarbounis, Marios; Kudlyak, Marianna; … - 2018
spending by $0.29. We translate the regional consumption responses to an aggregate fiscal multiplier using a multi-region, New … multiplier, a result that distinguishes our incomplete markets model from models with complete markets. The aggregate consumption … multiplier is 0.64, which implies an output multiplier higher than one. The aggregate consumption multiplier is larger than the …
Persistent link: https://www.econbiz.de/10011911427