Fiscal policy, pricing frictions and monetary accommodation
Mostra el registre complet Registre parcial de l'ítem
- dc.contributor.author Canova, Fabioca
- dc.contributor.author Pappa, Evica
- dc.contributor.other Universitat Pompeu Fabra. Departament d'Economia i Empresa
- dc.date.accessioned 2017-07-26T10:50:31Z
- dc.date.available 2017-07-26T10:50:31Z
- dc.date.issued 2011-03-01
- dc.date.modified 2017-07-23T02:13:50Z
- dc.description.abstract We investigate the theoretical conditions for effectiveness of government consumption expenditure expansions using US, Euro area and UK data. Fiscal expansions taking place when monetary policy is accommodative lead to large output multipliers in normal times. The 2009-2010 packages need not produce significant output multipliers, may have moderate debt effects, and only generate temporary inflation. Expenditure expansions accompanied by deficit/debt consolidations schemes may lead to short run output gains but their success depends on how monetary policy and expectations behave. Trade openness and the cyclicality of the labor wedge explain cross-country differences in the magnitude of the multipliers.
- dc.format.mimetype application/pdfca
- dc.identifier https://econ-papers.upf.edu/ca/paper.php?id=1268
- dc.identifier.citation Economic Policy, 68, 555-598, 2011
- dc.identifier.uri http://hdl.handle.net/10230/19884
- dc.language.iso eng
- dc.relation.ispartofseries Economics and Business Working Papers Series; 1268
- dc.rights L'accés als continguts d'aquest document queda condicionat a l'acceptació de les condicions d'ús establertes per la següent llicència Creative Commons
- dc.rights.accessRights info:eu-repo/semantics/openAccess
- dc.rights.uri http://creativecommons.org/licenses/by-nc-nd/3.0/es/
- dc.subject.keyword government consumption expenditure shocks; pricing frictions; monetary policy accommodation; debt and inflation dynamics
- dc.subject.keyword Macroeconomics and International Economics
- dc.title Fiscal policy, pricing frictions and monetary accommodationca
- dc.type info:eu-repo/semantics/workingPaper