Was the New Deal expansionary?

C-Tier

Journal: Economics Letters

Year: 2019

Volume: 184

Issue: C

Authors (2)

Ji, Yangyang (Central University of Finance) Xiao, Wei (State University of New York-B...)

Score contribution per author:

0.505 = (α=2.02 / 2 authors) × 0.5x C-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

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Abstract

When wages are sticky and the interest rate hits the zero lower bound (ZLB), the expansionary effect of New Deal policies is drastically reduced. If the duration of the policies mismatches that of the ZLB, the effect can be contractionary.

Was the New Deal expansionary?

Authors (2)

Abstract

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