In both cases the values of the multipliers approach those in the standard IS-LM model as the mark-up factor tends to infinity.doi:10.1108/03068290410546020YannelisDemetrius CRePEcInternational Journal of Social EconomicsYannelis D. C(2004) Fiscal and Monetary Multipliers Under Imperfect Competition, ...
The paper provides a survey of fiscal and monetary policies during the 1930s under the Hoover and Roosevelt Administrations and how they influenced the pol... P Fishback - 《Oxford Review of Economic Policy》 被引量: 80发表: 2010年 Reviving Fiscal Policy. Fiscal stimulus has long been de-em...
In this article, on the basis of formalizing the IS-LM-BP Model, the multipliers of the fiscal and monetary policy in opening economy are deduced, and the contribution of two policies in China in recent years are calculated. The conclusion is that, as a method of analysis, the IS-LM-BP...
The monetary multiplier is driven by the central bank, which controls the money supply via the interest rates. The fiscal multiplier is driven by government spending on tangible things like building infrastructure or social programs. Formulas There are two types of fiscal multipliers – the expenditur...
Fiscal Multipliers and Open Economy spillovers in a Model with Labour Turnover Costs Discussion by Raffaela Giordano Banca d’Italia – Research Department Banco de España Conference “Interactions between monetary and fiscal policies” Madrid, February 2010 ...
Do fiscal policy and monetary policy have overlapping definitions? How do fiscal policies bring the AD to equilibrium? Would shorter lags in the effect of fiscal policy make fiscal policy more effective or less effective? Explain. What are some of the ways that fiscal policy might en...
From a monetary policy perspective, money multipliers will not continue falling forever; they may start rising once the post-crisis deleveraging process and repairing the financial sector is completed. If this happens, central banks must be prepared to downsize their balance sheets (including some ...
Tax-based adjustments have been associated with prolonged and deep recessions. The difference cannot be explained by different monetary policies during the two types of adjustments. Studying the effects of multi-year fiscal plans rather than individual shifts in fiscal variables we make progress on ...
I study monetary and fiscal policy in liquidity trap scenarios, where the zero bound on the nominal inlcrcst rate is binding. I work with a continuous-time version of the standard New Keynesian model. Without commitment, the economy sutlers from deflation and depressed output. 1 show that, su...
作者:Mishel Ghassibe (Centre de Recerca en Economia Internacional, CREi) & Francesco Zanetti (University of Oxford and CAMA) 来源:经济学顶级期刊Journal of Monetary Economics(JME),2022年 Section 1~3;译:钢琴曲阁 参考文献: Ghassibe M, Zanetti F. State Dependence of Fiscal Multipliers: The Source...