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 …

estimated stimulus is extremely small just when needed most, and GDP and employment effects are only one-sixth as large, with … private sector employment impacts likely to be even smaller …

this paper, we explore the concept of the income multiplier in a multi-regional input-output setting, in the context of the … Greek recession, showing empirical evidence for the increasing magnitude of the multiplier during the recession period. The …

In this paper, I show that the income-autonomous demand multiplier of Keynesian-Kaleckian models is endogenous to … certain conditions, an important consequence from the distribution-sensitive multiplier is that a higher wage share can have …-Kaleckian macroeconomic models. After a theoretical discussion on the implications of the distribution-sensitive multiplier in basic closed …