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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...
| Autores principales: | , , , |
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| Formato: | Online Artículo Texto |
| Lenguaje: | English |
| Publicado: |
Elsevier B.V.
2021
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| 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 |