| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w26249 |
| 来源ID | Working Paper 26249 |
| The Effects of a Money-Financed Fiscal Stimulus | |
| Jordi Galí | |
| 发表日期 | 2019-09-09 |
| 出版年 | 2019 |
| 语种 | 英语 |
| 摘要 | I analyze the effects of a money-financed fiscal stimulus and compare them with those resulting from a conventional debt-financed stimulus. I study the effects of both a tax cut and an increase in government purchases, with and without a binding zero lower bound (ZLB) on the nominal interest rate. When the ZLB is not binding, a money-financed fiscal stimulus is shown to have much larger multipliers than a debt-financed fiscal stimulus. That difference in effectiveness persists, but is much smaller, under a binding ZLB. Nominal rigidities are shown to play a major role in shaping those effects |
| 主题 | Macroeconomics ; Business Cycles ; Monetary Policy ; Fiscal Policy |
| URL | https://www.nber.org/papers/w26249 |
| 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/583921 |
| 推荐引用方式 GB/T 7714 | Jordi Galí. The Effects of a Money-Financed Fiscal Stimulus. 2019. |
| 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 | ||
| w26249.pdf（629KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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