Are government spending shocks inflationary at the zero lower bound? New evidence from daily data

DOI10.1016/J.JEDC.2022.104423zbMath1492.91212OpenAlexW4225162891MaRDI QIDQ2152324

Junhyeok Shin, Sangyup Choi, Seung Yong Yoo

Publication date: 8 July 2022

Published in: Journal of Economic Dynamics \& Control (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/j.jedc.2022.104423

zbMATH Keywords

high-frequency datacredit constraintsNew Keynesian modelgovernment spendingzero lower boundonline price index

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64)

Cites Work

• Nonlinear effects of fiscal policy over the business cycle
• Inflation anchoring and growth: the role of credit constraints
• Credit constraints and the government spending multiplier
• Forecasting Time Series With Complex Seasonal Patterns Using Exponential Smoothing
• FISCAL STIMULUS WITH LEARNING‐BY‐DOING
• A Simple, Positive Semi-Definite, Heteroskedasticity and Autocorrelation Consistent Covariance Matrix
• Fiscal Policy in an Expectations-Driven Liquidity Trap
• An Empirical Characterization of the Dynamic Effects of Changes in Government Spending and Taxes on Output
• Local Projection Inference Is Simpler and More Robust Than You Think

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