Fiscal spending multipliers over the household leverage cycle

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dc.authorid0000-0002-9195-0997
dc.contributor.authorPolattimur, Hamza
dc.contributor.authorKlein, Mathias
dc.contributor.authorWinkler, Roland
dc.date.accessioned2024-03-20T13:11:05Z
dc.date.available2024-03-20T13:11:05Z
dc.date.issued2022
dc.departmentTAÜ, İktisadi ve İdari Bilimler Fakültesi, İktisat Bölümüen_US
dc.description.abstractThis paper investigates household leverage-dependent fiscal policy effects in a two-agent New Keynesian DSGE model with occasionally binding borrowing constraints. Our model successfully replicates empirical evidence showing that fiscal policy’s effectiveness differs significantly across the household leverage cycle. Fiscal multipliers are persistently above unity when government spending rises at the peak of the household leverage cycle. In contrast, increases in government spending at the trough of the household leverage cycle imply fiscal multipliers below unity. We test the model’s predictions on post-WWII U.S. data.
dc.identifier.citationPolattimur, H., Klein, Mathias., Winkler, R. (2022). Fiscal spending multipliers over the household leverage cycle. 141, 1-19.
dc.identifier.doi10.1016/j.euroecorev.2021.103989
dc.identifier.endpage19en_US
dc.identifier.issn0014-2921
dc.identifier.scopusqualityQ1
dc.identifier.startpage1en_US
dc.identifier.urihttps://hdl.handle.net/20.500.12846/886
dc.identifier.volume141en_US
dc.language.isoen
dc.publisherElsevier
dc.relation.ispartofEuropean Economic Review 1
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanı
dc.rightsinfo:eu-repo/semantics/openAccess
dc.subjectOccasionally binding constraintsen_US
dc.subjectGovernment spending multiplieren_US
dc.subjectHousehold leverage cycleen_US
dc.subjectState-dependenceen_US
dc.titleFiscal spending multipliers over the household leverage cycle
dc.typeArticle

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