| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w16758 |
| 来源ID | Working Paper 16758 |
| Unconventional Fiscal Policy at the Zero Bound | |
| Isabel Correia; Emmanuel Farhi; Juan Pablo Nicolini; Pedro Teles | |
| 发表日期 | 2011-02-03 |
| 出版年 | 2011 |
| 语种 | 英语 |
| 摘要 | 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 inflate. We conclude that in the New Keynesian model, the zero bound on nominal interest rates is not a relevant constraint on both fiscal and monetary policy. |
| 主题 | Macroeconomics ; Macroeconomic Models ; Monetary Policy ; Fiscal Policy |
| URL | https://www.nber.org/papers/w16758 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/574433 |
| 推荐引用方式 GB/T 7714 | Isabel Correia,Emmanuel Farhi,Juan Pablo Nicolini,et al. Unconventional Fiscal Policy at the Zero Bound. 2011. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w16758.pdf（262KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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