Unconventional Fiscal Policy at the Zero Bound
收藏NBER2011-02-01 更新2025-01-04 收录
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https://www.nber.org/papers/w16758
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When the zero lower bound on nominal interest rates binds, monetary policy cannot provide appropriate stimulus. We show that in the standard New Keynesian model, tax policy can deliver such stimulus at no cost and in a time-consistent manner. There is no need to use inefficient policies such as
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美国国家经济研究局创建时间：
2011-02-01
