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Taking off into the wind: Unemployment risk and state-Dependent government spending multipliers()

We propose a model with involuntary unemployment, incomplete markets, and nominal rigidity, in which the effects of government spending are state-dependent. An increase in government purchases raises aggregate demand, tightens the labor market and reduces unemployment. This in turn lowers unemployme...

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Detalles Bibliográficos
Autores principales: Albertini, Julien, Auray, Stéphane, Bouakez, Hafedh, Eyquem, Aurélien
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Elsevier B.V. 2021
Materias:
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7405796/
https://www.ncbi.nlm.nih.gov/pubmed/32836679
http://dx.doi.org/10.1016/j.jmoneco.2020.07.007