measures emphasize that government spending can stimulate additional private spending the so-called Keynesian multiplier effect …, when stimulus is most needed, may even be negative. Traditional Keynesian multiplier effects only arise in a model that …

output and employment in New Keynesian models, through a series of simple examples that can be solved analytically. Delays in … wages; in a fairly broad class of simple models, the multiplier is 1 in the case that the monetary authority maintains a … constant path for real interest rates. The multiplier can be considerably smaller, however, if the monetary authority raises …

output and employment in New Keynesian models, through a series of simple examples that can be solved analytically. Delays in … wages; in a fairly broad class of simple models, the multiplier is 1 in the case that the monetary authority maintains a … constant path for real interest rates. The multiplier can be considerably smaller, however, if the monetary authority raises …

measures emphasize that government spending can stimulate additional private spending - the Keynesian multiplier effect. Thus …

estimated stimulus is extremely small with GDP and employment effects only onesixth as large. -- Fiscal multiplier ; New …