期刊名称：Departmental Discussion Papers / University of Glasgow, Department of Economics
出版年度：2005
卷号：1
出版社：University of Glasgow, Department of Economics
摘要：This paper provides an overview of recent papers which use estimated New
Keynesian models to study the extent to which .scal policy can be used to
stabilize the economy. We use a variety of di¤erent New Keynesian models,
estimated on data for both the US and for the Euro area, and highlight the
diverse transmission channels through which .scal policy acts in these mod-
els. Although we .nd that .scal policy can provide a useful complement to
monetary policy, especially in models where consumers have .nite horizons,
there are important limitations to the value added of .scal policy.
