Household Debt and Fiscal Multipliers
Bibliographic Data
| ID | 9727169 |
|---|---|
| Authors | Javier Andrés (0000-0003-0980-4833, Universitat de València), José E Boscá (0000-0001-5238-1237, Universitat de València), Javier Ferri (0000-0001-7722-9186, Universitat de València) |
| Year | 2015 |
| Volume | 82 |
| Issue | s1 |
| Pages | 1048-1081 |
| Publication date | 2015-12-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Economica (JOURNAL) |
| Journal identifiers | ISSN: 0013-0427 • E-ISSN: 1468-0335 |
| Publisher | Wiley (PUBLISHER • GB) |
| DOI | 10.1111/ecca.12161 |
| OpenAlex | W2160451514 |
| Language | EN |
| Citations received | 1 |
| References cited | 54 |
We study the size of government spending multipliers in a general equilibrium model with search and matching frictions in which we allow for different levels of household indebtedness. The main results are: (a) the presence of impatient households and private debt helps to generate government spending multipliers greater than 1; (b) as financial conditions worsen, the size of the government spending multiplier falls; (c) conversely, employment, vacancies and unemployment multipliers are larger in a credit crunch; (d) the model explains the observed pattern of responses of labour market variables, housing prices and private debt to a fiscal shock reasonably well
Crunch · Debt · Economics · Fiscal multiplier · Fiscal policy · Government Debt · Government spending · Macroeconomics · Monetary economics · Multiplier (economics) · Shock (circulatory) · Unemployment · Welfare · Economic theories and models · Economic Theory and Policy · Monetary Policy and Economic Impact
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Large Changes in Fiscal Policy
An Empirical Characterization of the Dynamic Effects of Changes in Government Spending and Taxes on Output
Understanding the Effects of Government Spending on Consumption
On the Efficiency of Matching and Related Models of Search and Unemployment
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Costly capital reallocation and the effects of government spending
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Habit Persistence, Nonseparability between Consumption and Leisure, or Rule-of-Thumb Consumers
Fiscal Stimulus with Spending Reversals
When Is the Government Spending Multiplier Large
Credit Cycles
Local Government Spending Multipliers and Financial Distress
Banking Competition, Housing Prices and Macroeconomic Stability
Identifying Government Spending Shocks
| Unique citing works | 1 |
|---|---|
| Citations per year | 0,17 |
| Citation span | 2020 - 2020 (1) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 1 |