| 000 | 01628nab a2200265 c 4500 | ||
|---|---|---|---|
| 999 |
_c139928 _d139928 |
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| 003 | ES-MaIEF | ||
| 005 | 20230612160445.0 | ||
| 007 | ta | ||
| 008 | 190218t2019 uk ||||| |||| 00| 0|eng d | ||
| 040 |
_aES-MaIEF _bspa _cES-MaIEF |
||
| 041 | _aeng | ||
| 100 | 1 |
_963546 _aMacManus, Richard |
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| 245 | 0 |
_aExpansionary contractions and fiscal free lunches _btoo good to be true ? _c Richard McManus, Gulcin Ozkan, Dawid Trzeciakiewicz |
|
| 260 | _c2019 | ||
| 500 | _aResumen. | ||
| 504 | _aBibliografía. | ||
| 520 | _aThis paper builds a framework to jointly examine the possibilities of both expansionary fiscal contractions (austerity increasing output) and fiscal free lunches (expansions reducing gover nment debt), arguments which in recent debates have been suppor ted by the austerity and stimulus camps, respectively. We propose a new metric quantifying the budgetary implications of fiscal action, a key aspect of fiscal policy particularly at the monetary zero lower bound. We find that austerity needs to be highly persistent and credible in order to be expansionary, and stimulus needs to be temporary, responsive, and well-targeted in order to lower debt. We conclude that neither is likely, especially during periods of economic distress. | ||
| 650 | 4 |
_948067 _aPOLITICA FISCAL |
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| 650 | 4 |
_943194 _aECONOMIAS DE ESCALA |
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| 650 | 4 |
_947776 _aMODELOS ECONOMETRICOS |
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| 700 | 1 |
_933895 _aÖzkan, F. Gülçin |
|
| 700 | 1 |
_966981 _aTrzeciakiewicz, Dawid |
|
| 773 | 0 |
_9159151 _oOP 1376/2019/1 _tThe Scandinavian Journal of Economics _w(IEF)34704 _x 0347-0520 _g v. 121, n. 1, 2019, p. 32-54 |
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| 942 | _cART | ||