This paper investigates the role of informality in affecting the magnitude of the fiscal multiplier in a panel of 141 … size of the fiscal multiplier. This result holds irrespective of the levels of economic development and institutional …. Thus, informality raises the size of the unofficial multiplier. A higher degree of non-separability between public and …

(real or deficit). Under monetary and fiscal policy coordination, the real spending multiplier is 3.4 and the deficit … spending multiplier is 3.8. However, when there is no policy coordination, that is, when the central bank is "goal independent …," the real spending multiplier is unchanged but the deficit spending multiplier is zero. Coordination failure may explain …

-agent New Keynesian model, this paper shows analytically that the multiplier on targeted transfers to financially constrained … households is (i) larger than the purchase multiplier if the zero lower bound (ZLB) binds, and (ii) is more sensitive to the …, such as when the zero lower bound binds, the extra inflation from lower supply boosts the multiplier. This result also …

adjustment, the government purchase multiplier is about one or less, and the response of hours to a tax cut is either negative or …

multiplier nontrivially when the policy rate is constrained at the zero lower bound (ZLB). In the economy with policy inertia … the recession via expectations. In our baseline calibration, the output multiplier at the ZLB is 2.5 when the weight on …

Fiscal policy may affect the size of the fiscal multiplier or lengthen the elevated multipliers period. This notion at … affects fiscal multiplier. Having those two premises implies that fiscal policy could indirectly influence the fiscal … multiplier size or the length of the elevated multiplier period. This possibility is fitted into a simple model of liquidity trap …