Muscatelli, V. Anton; Tirelli, Patrizio - In: CESifo economic studies : CESifo, a joint initiative of … 51 (2005) 4, pp. 549-585
fiscal policy can be used to stabilize the economy. We use a variety of different New Keynesian models, estimated on data for … both the US and for the Euro area, and highlight the diverse transmission channels through which fiscal policy acts in … these models. Although we find that fiscal policy can provide a useful complement to monetary policy, especially in models …