期刊名称：Euro Area Balance of Payments and International Investment Position Statistics
印刷版ISSN：1830-3420
电子版ISSN：1830-3439
出版年度：2004
出版社：European Central Bank
摘要：Recent evidence on the e¤ect of government spending shocks on consumption cannot be easily reconciled with existing optimizing business cycle models. We extend the standard New Keynesian model to allow for the presence of rule-of-thumb (non- Ricardian) consumers. We show how the interaction of the latter with sticky prices and de cit nancing can account for the existing evidence on the e¤ects of government spending.
关键词：rule-of-thumb consumers; scal multiplier; government spending; Tay-;lor rules
