| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP10210 |
| DP10210 Is Government Spending at the Zero Lower Bound Desirable? | |
| Roberto Perotti; Tommaso Monacelli; Florin Bilbiie | |
| 发表日期 | 2014-10-19 |
| 出版年 | 2014 |
| 语种 | 英语 |
| 摘要 | Government spending at the zero lower bound (ZLB) is not necessarily welfare enhancing, even when its output multiplier is large. When government spending provides direct utility to the household, its optimal level is at most 0.5-1 percent of GDP for recessions of -4 percent; the numbers are higher for deeper recessions. When spending does not provide direct utility, it is generically welfare-detrimental: it should be kept unchanged at a long run-optimal value. |
| 主题 | International Macroeconomics |
| 关键词 | Government spending multiplier Welfare Zero lower bound |
| URL | https://cepr.org/publications/dp10210 |
| 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/539043 |
| 推荐引用方式 GB/T 7714 | Roberto Perotti,Tommaso Monacelli,Florin Bilbiie. DP10210 Is Government Spending at the Zero Lower Bound Desirable?. 2014. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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