effect on total GDP. In this setup the spending multiplier shows large long-run effects, considerably stronger than those …

multiplier. To this end we contrast two different ways to implement the ZLB in a New Keynesian model: the ZLB modeled as an … multiplier are not only due to differences in the timing assumption of government spending but also driven by the choice of the … ZLB modeling. Ceteris paribus, the impact multiplier is higher if the ZLB is modeled appropriately as a constraint. …

fiscal multiplier is between zero and one, and provide sufficient conditions for it to be increasing in the degree of … imperfect competition. We also are able to compare the multiplier under free-entry and with a fixed number of firms and welfare …

This paper shows that the fiscal multiplier for purchases of durable and investment goods is very small - much smaller … than the multiplier for nondurable goods. Standard models predict small durables multipliers because private sector …

multiplier; (ii) positive long-run output multipliers are obtained only if the generational turnover effect is dominated by the …

between multiplier size and the import share. Employing an interacted panel VAR model for EU countries, we estimate the effect …