Fiscal Stimulus and Distortionary Taxation
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We quantify the fiscal multipliers in response to the American Recovery and Reinvestment Act (ARRA) of 2009. We extend the benchmark Smets-Wouters (2007) New Keynesian model, allowing for credit-constrained households, the zero lower bound, government capital and distortionary taxation. The
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美国国家经济研究局创建时间：
2011-06-01
