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来源类型 | Discussion paper |
规范类型 | 论文 |
来源ID | DP8829 |
DP8829 Fiscal Policy in a Financial Crisis: Standard Policy vs. Bank Rescue Measures | |
Robert Kollmann; Werner Roeger | |
发表日期 | 2012-02-01 |
出版年 | 2012 |
语种 | 英语 |
摘要 | A key dimension of fiscal policy during the financial crisis was massive government support for the banking system. The macroeconomic effects of that support have, so far, received little attention in the literature. This paper fills this gap, using a quantitative dynamic model with a banking sector. Our results suggest that state aid for banks may have a strong positive effect on real activity. Bank state aid multipliers are in the same range as conventional fiscal spending multipliers. Support for banks has a positive effect on investment, while a rise in government purchases crowds out investment. |
主题 | International Macroeconomics |
关键词 | Financial crisis Fiscal stimulus Real activity State support for banks |
URL | https://cepr.org/publications/dp8829 |
来源智库 | Centre for Economic Policy Research (United Kingdom) |
资源类型 | 智库出版物 |
条目标识符 | http://119.78.100.153/handle/2XGU8XDN/537665 |
推荐引用方式 GB/T 7714 | Robert Kollmann,Werner Roeger. DP8829 Fiscal Policy in a Financial Crisis: Standard Policy vs. Bank Rescue Measures. 2012. |
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