✦ LIBER ✦

Tax multipliers and monetary policy: Evidence from a threshold model

✍ Scribed by Jones, Paul M.; Olson, Eric

No coin nor oath required. For personal study only.

✦ Synopsis

• We extend Romer and Romer (2010) and allow for nonlinearities between fiscal policy shocks and gdp.

• The best fitting threshold variable is the federal funds rate with a delay of 2.

• The tax multiplier is 4 times larger with accommodative monetary policy.

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