-run multipliers around 0.52 and modestly negative long-run multipliers around -0.42. The multiplier is sensitive to the fraction of …. -- Fiscal Stimulus ; New Keynesian model ; liquidity trap ; zero lower bound ; fiscal multiplier … modestly negative long-run multipliers around -0.42. The multiplier is sensitive to the fraction of transfers given to credit …

We consider the fiscal multiplier and spillover in an environment in which two countries are caught simultaneously in a … show that the fiscal multiplier and spillover are contrary to those predicted in textbook economics. For the country with … government expenditure, the fiscal multiplier exceeds one, the currency depreciates, and the terms of trade worsen. The fiscal …

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 …

spending by $0.18. 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 0.4, which implies an output multiplier higher than one. The aggregate consumption multiplier is almost twice the …

responses to an aggregate fiscal multiplier using a multi-region, New Keynesian model with heterogeneous agents, incomplete … markets, and trade linkages. Our model is consistent with the estimated positive local multiplier, a result that distinguishes … multiplier is twice as large as the local multiplier because trade linkages propagate the effect of government spending across …

responses to an aggregate fiscal multiplier using a multi-region, New Keynesian model with heterogeneous agents, incomplete … markets, and trade linkages. Our model is consistent with the estimated positive local multiplier, a result that distinguishes … multiplier is twice as large as the local multiplier because trade linkages propagate government spending across regions …

Policy ; Monetary Policy ; Fiscal Multiplier ; Collateral Constraint ; DSGE modelling …

cycle further lowe ring the fiscal multiplier. Longer maturity debt leads to larger capital losses and lower Keynesian … further after a deficit financed stimulus package, eventually implying a cumulative Keynesian multiplier close to zero or even …