Liu, Zheng; Miao, Jianjun; Su, Dongling - 2023
monetary and fiscal policy regimes. AITfeatures an inflation makeup under the monetary regime, but not under thefiscal regime … regime by shortening theduration of the ZLB through expected inflation makeup. Under the fiscalregime, AIT has a nonlinear … effect on fiscal multipliers because of theabsence of inflation makeup and the presence of a nominal wealth effect …