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Online Appendix to "How do financial frictions affect the spending multiplier during a liquidity trap?"

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  • Julio Carrillo

    (University of Ghent)

  • Celine Poilly

    (University of Lausanne)

Abstract

Online appendix for the Review of Economic Dynamics article

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File URL: http://www.EconomicDynamics.org/appendix/12/12-54/appendix12-54.pdf
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Paper provided by Review of Economic Dynamics in its series Technical Appendices with number 12-54.

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Date of creation: 2013
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Handle: RePEc:red:append:12-54

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  1. Drautzburg, Thorsten & Uhlig, Harald, 2011. "Fiscal stimulus and distortionary taxation," ZEW Discussion Papers, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research 11-037, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
  2. Monacelli, Tommaso & Perotti, Roberto, 2008. "Fiscal Policy, Wealth Effects and Markups," CEPR Discussion Papers, C.E.P.R. Discussion Papers 7099, C.E.P.R. Discussion Papers.
  3. Gernot Müller & André Meier & Giancarlo Corsetti, 2012. "What Determines Government Spending Multipliers?," IMF Working Papers 12/150, International Monetary Fund.
  4. Gauti B. Eggertsson & Paul Krugman, 2012. "Debt, Deleveraging, and the Liquidity Trap: A Fisher-Minsky-Koo Approach," The Quarterly Journal of Economics, Oxford University Press, vol. 127(3), pages 1469-1513.
  5. Lawrence Christiano & Roberto Motto & Massimo Rostagno, 2013. "Risk Shocks," NBER Working Papers 18682, National Bureau of Economic Research, Inc.
  6. Bernanke, B. & Gertler, M. & Gilchrist, S., 1998. "The Financial Accelerator in a Quantitative Business Cycle Framework," Working Papers, C.V. Starr Center for Applied Economics, New York University 98-03, C.V. Starr Center for Applied Economics, New York University.
  7. Simon Gilchrist & Egon Zakrajšek, 2011. "Monetary Policy and Credit Supply Shocks," IMF Economic Review, Palgrave Macmillan, Palgrave Macmillan, vol. 59(2), pages 195-232, June.
  8. Lawrence J. Christiano & Martin Eichenbaum & Charles Evans, 2001. "Nominal Rigidities and the Dynamic Effects of a Shock to Monetary Policy," NBER Working Papers 8403, National Bureau of Economic Research, Inc.
  9. Mertens, Karel & Ravn, Morten O., 2010. "Fiscal Policy in an Expectations Driven Liquidity Trap," CEPR Discussion Papers, C.E.P.R. Discussion Papers 7931, C.E.P.R. Discussion Papers.
  10. Shu-Chun S. Yang & Todd B. Walker & Eric M. Leeper, 2010. "Government Investment and Fiscal Stimulus," IMF Working Papers 10/229, International Monetary Fund.
  11. Anderson, Gary & Moore, George, 1985. "A linear algebraic procedure for solving linear perfect foresight models," Economics Letters, Elsevier, Elsevier, vol. 17(3), pages 247-252.
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  13. Davig, Troy & Leeper, Eric M., 2011. "Monetary-fiscal policy interactions and fiscal stimulus," European Economic Review, Elsevier, Elsevier, vol. 55(2), pages 211-227, February.
  14. Michael Woodford, 2010. "Simple Analytics of the Government Expenditure Multiplier," Discussion Papers, Columbia University, Department of Economics 0910-09, Columbia University, Department of Economics.
  15. Athanasios Orphanides & John C. Williams, 2006. "Monetary Policy with Imperfect Knowledge," Journal of the European Economic Association, MIT Press, MIT Press, vol. 4(2-3), pages 366-375, 04-05.
  16. Stephanie Schmitt-Grohé & Martín Uribe, 2006. "Optimal Inflation Stabilization in a Medium-Scale Macroeconomic Model," Working Papers Central Bank of Chile, Central Bank of Chile 410, Central Bank of Chile.
  17. Anton Nakov, 2008. "Optimal and Simple Monetary Policy Rules with Zero Floor on the Nominal Interest Rate," International Journal of Central Banking, International Journal of Central Banking, International Journal of Central Banking, vol. 4(2), pages 73-127, June.
  18. Giancarlo Corsetti & Keith Kuester & André Meier & Gernot J. Müller, 2010. "Debt Consolidation and Fiscal Stabilization of Deep Recessions," American Economic Review, American Economic Association, American Economic Association, vol. 100(2), pages 41-45, May.
  19. Bodenstein, Martin & Erceg, Christopher & Guerrieri, Luca, 2010. "The Effects of Foreign Shocks When Interest Rates Are at Zero," CEPR Discussion Papers, C.E.P.R. Discussion Papers 8006, C.E.P.R. Discussion Papers.
  20. Fernández-Villaverde, Jesús & Gordon, Grey & Guerron-Quintana, Pablo A. & Rubio-Ramírez, Juan Francisco, 2012. "Nonlinear Adventures at the Zero Lower Bound," CEPR Discussion Papers, C.E.P.R. Discussion Papers 8972, C.E.P.R. Discussion Papers.
  21. Lawrence J. Christiano & Martin Eichenbaum & Sergio Rebelo, 2010. "When is the government spending multiplier large?," CQER Working Paper, Federal Reserve Bank of Atlanta 2010-01, Federal Reserve Bank of Atlanta.
  22. John Cogan & Tobias Cwik & John Taylor & Volker Wieland, 2009. "New Keynesian Versus Old Keynesian Government Spending Multipliers," Discussion Papers, Stanford Institute for Economic Policy Research 08-030, Stanford Institute for Economic Policy Research.
  23. Smets, Frank & Wouters, Raf, 2007. "Shocks and frictions in US business cycles: a Bayesian DSGE approach," Working Paper Series, European Central Bank 0722, European Central Bank.
  24. Frederic S. Mishkin & Klaus Schmidt-Hebbel, 2006. "Monetary Policy Under Inflation Targeting: An Introduction," Working Papers Central Bank of Chile, Central Bank of Chile 396, Central Bank of Chile.
  25. Robert Amano & Malik Shukayev, 2012. "Risk Premium Shocks and the Zero Bound on Nominal Interest Rates," Journal of Money, Credit and Banking, Blackwell Publishing, Blackwell Publishing, vol. 44(8), pages 1475-1505, December.
  26. Lawrence J. Christiano & Mathias Trabandt & Karl Walentin, 2010. "DSGE models for monetary policy analysis," CQER Working Paper, Federal Reserve Bank of Atlanta 2010-02, Federal Reserve Bank of Atlanta.
  27. Valerie A. Ramey, 2009. "Identifying Government Spending Shocks: It's All in the Timing," NBER Working Papers 15464, National Bureau of Economic Research, Inc.
  28. Giancarlo Corsetti & André Meier & Gernot J. Müller, 2012. "What determines government spending multipliers?," Economic Policy, CEPR;CES;MSH, CEPR;CES;MSH, vol. 27(72), pages 521-565, October.
  29. Queijo von Heideken, Virginia, 2008. "How Important are Financial Frictions in the U.S. and the Euro Area?," Working Paper Series 223, Sveriges Riksbank (Central Bank of Sweden).
  30. Jesús Fernández-Villaverde, 2010. "Fiscal Policy in a Model with Financial Frictions," American Economic Review, American Economic Association, American Economic Association, vol. 100(2), pages 35-40, May.
  31. Karel Mertens & Morten O. Ravn, 2011. "Leverage and the Financial Accelerator in a Liquidity Trap," American Economic Review, American Economic Association, American Economic Association, vol. 101(3), pages 413-16, May.
  32. Edge, Rochelle M. & Rudd, Jeremy B., 2011. "General-equilibrium effects of investment tax incentives," Journal of Monetary Economics, Elsevier, Elsevier, vol. 58(6), pages 564-577.
  33. Calvo, Guillermo A., 1983. "Staggered prices in a utility-maximizing framework," Journal of Monetary Economics, Elsevier, Elsevier, vol. 12(3), pages 383-398, September.
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Citations

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Cited by:
  1. Rossana Merola, 2013. "The role of financial frictions during the crisis: An estimated DSGE model," Working Paper Research, National Bank of Belgium 249, National Bank of Belgium.
  2. repec:spo:wpecon:info:hdl:2441/2g7mhju69b94obeaqlen09s1au is not listed on IDEAS
  3. Giovanni Melina & Stefania Villa, 2014. "Fiscal Policy And Lending Relationships," Economic Inquiry, Western Economic Association International, vol. 52(2), pages 696-712, 04.
  4. Stefanie Flotho, 2012. "Monetary and Fiscal Policy in a Monetary Union under the Zero Lower Bound constraint," Discussion Paper Series, Department of International Economic Policy, University of Freiburg 20, Department of International Economic Policy, University of Freiburg, revised Jun 2012.
  5. Julien Albertini & Arthur Poirier, 2014. "Unemployment benefits extensions at the zero lower bound on nominal interest rate," SFB 649 Discussion Papers SFB649DP2014-019, Sonderforschungsbereich 649, Humboldt University, Berlin, Germany.
  6. Kühl, Michael, 2014. "The financial accelerator and market-based debt instruments: A role for maturities?," Discussion Papers 08/2014, Deutsche Bundesbank, Research Centre.
  7. Javier Andrés & José Boscá & Francisco Ferri, 2012. "Household leverage and fiscal multipliers," Banco de Espa�a Working Papers 1215, Banco de Espa�a.
  8. Flotho, Stefanie, 2012. "Monetary and Fiscal Policy in a Monetary Union under the Zero Lower Bound constraint," Annual Conference 2012 (Goettingen): New Approaches and Challenges for the Labor Market of the 21st Century 62028, Verein für Socialpolitik / German Economic Association.
  9. Christophe Blot & Marion Cochard & Jérôme Creel & Bruno Ducoudre & Danielle Schweisguth & Xavier Timbeau, 2014. "Fiscal consolidation in times of crisis: is the sooner really the better?," Sciences Po publications info:hdl:2441/2g7mhju69b9, Sciences Po.
  10. Villa, Stefania, 2013. "Financial frictions in the euro area: a Bayesian assessment," Working Paper Series, European Central Bank 1521, European Central Bank.

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