Unconventional fiscal policy at the zero bound

Detalhes bibliográficos
Autor(a) principal: Correia, Isabel
Data de Publicação: 2013
Outros Autores: Farhi, Emmanuel, Nicolini, Juan Pablo, Teles, Pedro
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10400.14/35064
Resumo: When the zero lower bound on nominal interest rates binds, monetary policy cannot provide appropriate stimulus. We show that, in the standard New Keynesian model, tax policy can deliver such stimulus at no cost and in a time-consistent manner. There is no need to use inefficient policies such as wasteful public spending or future commitments to low interest rates.
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spelling Unconventional fiscal policy at the zero boundZero BoundFiscal policyMonetary policySticky pricesWhen the zero lower bound on nominal interest rates binds, monetary policy cannot provide appropriate stimulus. We show that, in the standard New Keynesian model, tax policy can deliver such stimulus at no cost and in a time-consistent manner. There is no need to use inefficient policies such as wasteful public spending or future commitments to low interest rates.Veritati - Repositório Institucional da Universidade Católica PortuguesaCorreia, IsabelFarhi, EmmanuelNicolini, Juan PabloTeles, Pedro2021-09-21T14:48:57Z2013-062013-06-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10400.14/35064eng0002-828210.1257/aer.103.4.117284879150159000322877700003info:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-07-12T17:40:34Zoai:repositorio.ucp.pt:10400.14/35064Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T18:28:26.193684Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv Unconventional fiscal policy at the zero bound
title Unconventional fiscal policy at the zero bound
spellingShingle Unconventional fiscal policy at the zero bound
Correia, Isabel
Zero Bound
Fiscal policy
Monetary policy
Sticky prices
title_short Unconventional fiscal policy at the zero bound
title_full Unconventional fiscal policy at the zero bound
title_fullStr Unconventional fiscal policy at the zero bound
title_full_unstemmed Unconventional fiscal policy at the zero bound
title_sort Unconventional fiscal policy at the zero bound
author Correia, Isabel
author_facet Correia, Isabel
Farhi, Emmanuel
Nicolini, Juan Pablo
Teles, Pedro
author_role author
author2 Farhi, Emmanuel
Nicolini, Juan Pablo
Teles, Pedro
author2_role author
author
author
dc.contributor.none.fl_str_mv Veritati - Repositório Institucional da Universidade Católica Portuguesa
dc.contributor.author.fl_str_mv Correia, Isabel
Farhi, Emmanuel
Nicolini, Juan Pablo
Teles, Pedro
dc.subject.por.fl_str_mv Zero Bound
Fiscal policy
Monetary policy
Sticky prices
topic Zero Bound
Fiscal policy
Monetary policy
Sticky prices
description When the zero lower bound on nominal interest rates binds, monetary policy cannot provide appropriate stimulus. We show that, in the standard New Keynesian model, tax policy can deliver such stimulus at no cost and in a time-consistent manner. There is no need to use inefficient policies such as wasteful public spending or future commitments to low interest rates.
publishDate 2013
dc.date.none.fl_str_mv 2013-06
2013-06-01T00:00:00Z
2021-09-21T14:48:57Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10400.14/35064
url http://hdl.handle.net/10400.14/35064
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv 0002-8282
10.1257/aer.103.4.1172
84879150159
000322877700003
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
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dc.source.none.fl_str_mv reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
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