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What is Government Expenditure Multiplier Analysis about?

This document summarizes a paper that analytically examines government expenditure multipliers in New Keynesian models. It begins by reviewing a neoclassical benchmark model where the multiplier is less than one due to crowding out of private expenditure. It then shows that in simple New Keynesian models with constant real interest rates, the multiplier is equal to one. However, under more realistic monetary policy assumptions, the multiplier is typically less than one as interest rates rise in response to

Author

Andreas martin

Language

EN