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The government spending multiplier at the zero lower bound: International evi...
Based on a large historical panel dataset, this paper provides evidence that the government spending multiplier can be significantly higher when interest rates are at or near... -
In search of an appropriate lower bound. The zero lower bound vs. the positiv...
Using a standard New Keynesian model, we show that moderate side effects of zero lower bound (ZLB) policy suffice for positive lower bound (PLB) policy to pay off in terms of...
