State Dependent Government Spending Multipliers: Downward Nominal Wage Rigidity and Sources of Business Cycle Fluctuations
收藏NBER2022-05-01 更新2025-01-04 收录
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https://www.nber.org/papers/w30025
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资源简介：
We consider a New Keynesian model with downward nominal wage rigidity (DNWR) and show that government spending is much more effective in stimulating output in a low-inflation recession relative to a high-inflation recession. The government spending multiplier is large when DNWR binds, but the nature
提供机构：
美国国家经济研究局
创建时间：
2022-05-01
