Replication data for: Unconventional Fiscal Policy at the Zero Bound
Principal Investigator(s): View help for Principal Investigator(s) Isabel Correia; Emmanuel Farhi; Juan Pablo Nicolini; Pedro Teles
Version: View help for Version V1
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programs | 10/11/2019 06:41:PM | ||
LICENSE.txt | text/plain | 14.6 KB | 10/11/2019 02:41:PM |
Project Citation:
Correia, Isabel, Farhi, Emmanuel, Nicolini, Juan Pablo, and Teles, Pedro. Replication data for: Unconventional Fiscal Policy at the Zero Bound. Nashville, TN: American Economic Association [publisher], 2013. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-11. https://doi.org/10.3886/E112643V1
Project Description
Summary:
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When the zero lower bound on nominal interest rates binds, monetary
policy cannot provide appropriate stimulus. We show that, in the
standard New Keynesian model, tax policy can deliver such stimulus
at no cost and in a time-consistent manner. There is no need to use
inefficient policies such as wasteful public spending or future commitments to low interest rates.
Scope of Project
JEL Classification:
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E12 General Aggregative Models: Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
E43 Interest Rates: Determination, Term Structure, and Effects
E52 Monetary Policy
E62 Fiscal Policy
H20 Taxation, Subsidies, and Revenue: General
E12 General Aggregative Models: Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
E43 Interest Rates: Determination, Term Structure, and Effects
E52 Monetary Policy
E62 Fiscal Policy
H20 Taxation, Subsidies, and Revenue: General
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