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Fiscal policy under long-run stagnation : a new interpretation of the multiplier effect
Murota, Ryu-ichiro; Ono, Yoshiyasu - 2015
We develop a Keynesian cross analysis with a dynamic optimization setting that explains long-run stagnation caused by … aggregate demand deficiency. We show that an increase in government purchases boosts GDP through a multiplier process, but the … through moderation of deflation. Thus, countries that have lapsed into long-run stagnation should expand government spending …
Persistent link: https://www.econbiz.de/10010519974
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The new Keynesian cross
Bilbiie, Florin Ovidiu - In: Journal of monetary economics 114 (2020), pp. 90-108
Persistent link: https://www.econbiz.de/10012494862
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Keynesian stimulus versus classical austerity
Seidman, Laurence S. - In: Review of Keynesian economics (2012), pp. 77-92
Persistent link: https://www.econbiz.de/10009703787
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Fiscal policy : post- or New Keynesian?
Gechert, Sebastian - In: European journal of economics and economic policies : … 20 (2023) 2, pp. 338-355
This paper asks whether the post-Keynesian or New Keynesian paradigm provides a more realistic description of the effects of fiscal policy on output and consumption. I establish some macro and microeconomic stylized facts on fiscal multipliers and marginal propensities to consume based on the...
Persistent link: https://www.econbiz.de/10014433734
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The new consensus from a traditional Keynesian and post-Keynesian perspective : a worthwhile foundation for research or just a waste of time?
Dullien, Sebastian - 2009
This paper examines in how far the DSGE model which is often dubbed the New Keynesian Consensus is compatibel with a Post-Keynesian or traditional Keynesian understanding of the economy. It is argued that while at first sight DSGE models seem to include a lot of traditional Keynesian or even...
Persistent link: https://www.econbiz.de/10009304904
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New-Keynesian economics : an AS-AD view
Benigno, Pierpaolo - In: Research in economics : an international review of economics 69 (2015) 4, pp. 503-524
Persistent link: https://www.econbiz.de/10011556680
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Is freshwater skepticism on fiscal multipliers rooted in theory?
Myatt, Anthony; MacLean, Brian Kenneth - In: International journal of political economy : a journal … 43 (2014) 3, pp. 94-107
Persistent link: https://www.econbiz.de/10011413147
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New Keynesian versus old Keynesian government spending multipliers
Cogan, John F.; Cwik, Tobias; Taylor, John B.; Wieland, … - In: Journal of economic dynamics & control 34 (2010) 3, pp. 281-295
Persistent link: https://www.econbiz.de/10003966100
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Essays on monetary and fiscal policy transmission
Cwik, Tobias - 2010
Persistent link: https://www.econbiz.de/10008749831
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Seven replies to the critiques of Modern Money Theory
Tymoigne, Éric - 2021
Modern Money Theory (MMT) has generated considerable scrutiny and discussions over the past decade. While it has gained some acceptance in the financial sector and among some politicians, it has come under strong criticisms from all sides of the academic spectrum and from conservative political...
Persistent link: https://www.econbiz.de/10012795769