Is Government Spending at the Zero Lower Bound Desirable?
收藏NBER2014-11-01 更新2025-01-04 收录
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https://www.nber.org/papers/w20687
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Government spending at the zero lower bound (ZLB) is not necessarily welfare enhancing, even when its output multiplier is large. We illustrate this point in the context of a standard New Keynesian model. In that model, when government spending provides direct utility to the household, its optimal
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美国国家经济研究局创建时间：
2014-11-01
