Fiscal Multipliers: Liquidity Traps and Currency Unions
By Emmanuel Farhi, I. Werning. 2012
230 citations recorded by the source corpus.
Subfields: Economics and Econometrics, Finance
View Paper: https://www.semanticscholar.org/paper/e200a42aa8bebdcda6c6eed4de1f0b4c80678c14
How researchers see this paper
The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.
In Economics and Econometrics
- Ricardo J. Caballero
- Emmanuel Farhi
- V. Ramey
- Thomas Philippon
- Philippe Martin
- P. Gourinchas
- Olivier J. Blanchard
- Gary B. Gorton
In Finance
- Emmanuel Farhi
- Ricardo J. Caballero
- V. Ramey
- Thomas Philippon
- Philippe Martin
- P. Gourinchas
- Anton Korinek
- Gary B. Gorton
Citations in the corpus
- The Euro Area Crisis: Need for a Supranational Fiscal Risk Sharing Mechanism? (2013, unknown): “…be played by cross-border ownership of assets and liabilities and intra European credit (Atkeson and Bayoumi 1993; Schmitz 2010), as illustrated by Farhi and Werning (2012), market-based insurance tends to be suboptimal in currency unions as private agents do not internalize the macroeconomic…”
- The Safety Trap (2017, methodology): “This mitigates the recession in the safety trap by raising ξ to ξζτ > ξ (the analysis is almost identical to that of a monetary stimulus after the good Poisson shock explained above).(17,18)”
- The Effects of Fiscal Consolidations: Theory and Evidence (2017, unknown): “32See Farhi and Werning (2016) for a detailed discussion of fiscal multipliers at the zero-lower bound. boosts expected inflation so much that the economy would exit the zero lower-bound right away.33 Moreover, we do not wish to focus on the zero-lower-bound case because most of our empirical…”
- Macroeconomic Shocks and Their Propagation (2016, background): “q See, for example, Faust (1998), Barth and Ramey (2002), and Boivin and Giannoni (2006).”
- Stock Market Wealth and the Real Economy: A Local Labor Market Approach (2019, unknown): “Gali and Monacelli, 2005) adapted to the analysis of monetary unions by Nakamura and Steinsson (2014) and Farhi and Werning (2016), but differs from these papers by including a fully nontradable sector. This feature facilitates the structural interpretation and aggregation of the estimated local gen”
- Government Spending Multipliers in Good Times and in Bad: Evidence from US Historical Data (2014, unknown): “As Nakamura and Steinsson (2014) and Farhi and Werning (2016) show, the multipliers estimated from natural experiments that involve cross-state or cross-province differences are not the same as aggregate multipliers.”
- Inspecting the Mechanism: Leverage and the Great Recession in the Eurozone (2017, result): “These results are related to Cole and Obstfeld (1991) and Farhi and Werning (2013). TBC.”