When is the Government Transfer Multiplier Large?
Transfers to individuals were a larger part of the 2009 U.S. stimulus package than government purchases. Using a two-agent New Keynesian model, this paper shows analytically that the multiplier on targeted transfers to financially constrained house...
| Main Authors: | , |
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| Language: | English en_US |
| Published: |
World Bank, Washington, DC
2017
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/786831504723306335/When-is-the-government-transfer-multiplier-large http://hdl.handle.net/10986/28361 |