Clemens, Marius; Röger, Werner - 2021 - This (updated) version: May 2022
-through to consumer prices and during lockdown. Advocates emphasize positive effects on durable goods and stress that a VAT … distinguish between sectors directly and indirectly affected by the lockdown. We trace lockdown and fiscal shocks and analyze the … to solve the model in the presence of a ZLB, forced savings and a partial lockdown constraint. Although the lockdown …