| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w17111 |
| 来源ID | Working Paper 17111 |
| Fiscal Stimulus and Distortionary Taxation | |
| Thorsten Drautzburg; Harald Uhlig | |
| 发表日期 | 2011-06-09 |
| 出版年 | 2011 |
| 语种 | 英语 |
| 摘要 | We quantify the fiscal multipliers in response to the American Recovery and Reinvestment Act (ARRA) of 2009. We extend the benchmark Smets-Wouters (2007) New Keynesian model, allowing for credit-constrained households, the zero lower bound, government capital and distortionary taxation. The posterior yields modestly positive short-run multipliers around 0.52 and modestly negative long-run multipliers around -0.42. The multiplier is sensitive to the fraction of transfers given to credit-constrained households, the duration of the zero lower bound and the capital. The stimulus results in negative welfare effects for unconstrained agents. The constrained agents gain, if they discount the future substantially. |
| 主题 | Macroeconomics ; Fiscal Policy ; Public Economics ; Taxation ; National Fiscal Issues |
| URL | https://www.nber.org/papers/w17111 |
| 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/574786 |
| 推荐引用方式 GB/T 7714 | Thorsten Drautzburg,Harald Uhlig. Fiscal Stimulus and Distortionary Taxation. 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 | ||
| w17111.pdf（345KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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