The Effects of a Money-Financed Fiscal Stimulus
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I analyze the effects of a money-financed fiscal stimulus and compare them with those resulting from a conventional debt-financed stimulus. I study the effects of both a tax cut and an increase in government purchases, with and without a binding zero lower bound (ZLB) on the nominal interest rate.
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美国国家经济研究局创建时间：
2019-09-01
