Aloui, Rym; Guillard, Michel - Centre d'Études des Politiques Économiques (EPEE), … - 2009
In this paper, we study the interaction between monetary and fiscal poli- cies from the perspective of global analysis in a non-Ricardian economy with capital and a zero bound on the nominal interest rate. We demonstrate in this framework the possible coexistence of four steady state equilibria,...