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- W3125738271 abstract "This paper revisits the size of the fiscal multiplier. The experiment is a fiscal expansion under the assumption of a pegged nominal rate of interest. We demonstrate that a quantitatively important issue is the articulation of the exit from the policy experiment. If the monetary-fiscal expansion is stochastic with a mean duration of T periods, the fiscal multiplier can be unboundedly large. However, if the monetary-fiscal expansion is for a fixed T periods, the multiplier is much smaller." @default.
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- W3125738271 date "2012-12-17" @default.
- W3125738271 modified "2023-10-14" @default.
- W3125738271 title "Fiscal Multipliers under an Interest Rate Peg of Deterministic vs. Stochastic Duration" @default.
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- W3125738271 doi "https://doi.org/10.26509/wp-201235" @default.
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