Broer, Tobias; Krusell, Per; Öberg, Erik - In: Quantitative economics : QE ; journal of the … 14 (2023) 3, pp. 799-816
size of fiscal multipliers depends on (i) the distribution of factor incomes, and (ii) the source of nominal rigidities … HANK model, where workers do not own stock, and thus do not receive profit income, predicts smaller fiscal multipliers. In … contrast, fiscal multipliers are close to one, independently of income heterogeneity and price stickiness. …