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The composition of government spending and the multiplier at the zero lower bound |
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| Authors: | Julien Albertini Arthur Poirier Jordan Roulleau-Pasdeloup |
| Institution: | 1. Institute for Economic Theory II, Humboldt-Universität zu Berlin, Spandauerstraße 1, 10178 Berlin, Germany;2. EPEE, TEPP, University of Evry-Val-d’Essonne, Bd, François Mitterand, 91025 Evry Cedex, France;3. CREST, PSE, 15 Boulevard Gabriel Peri, 92245 Malakoff Cedex, France |
| Abstract: | We investigate the size of the multiplier at the ZLB in a New Keynesian model. It ranges from around −0.25 to +1.5, depending on the extent to which the government spending is productive, substitutable or not for private consumption. |
| Keywords: | E31 E32 E52 E62 |
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