Should the fiscal authority avoid implementation lag?

Eguchi, Masataka; Niwa, Hidekazu; Tsuruga, Takayuki

Should the fiscal authority avoid implementation lag?

Eguchi, Masataka; Niwa, Hidekazu; Tsuruga, Takayuki

Institute of Social and Economic Research Discussion Papers, 2022, 1196, 1-21

アクセス数:137件（2025-05-20 06:25 集計）

固定URL: https://hdl.handle.net/11094/89721

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タイトル	Should the fiscal authority avoid implementation lag?
著者	NRID 1000040600507 1000040600507 著者名 Eguchi, Masataka
	著者名 Niwa, Hidekazu
	NRID 1000040511720 1000040511720 ORCID 0000-0002-8177-2330 0000-0002-8177-2330 researchmap permalink 7000008934 7000008934 Scopus Author ID 16424964300 16424964300 著者名 Tsuruga, Takayuki
キーワード等	Fiscal multiplier
	Effective lower bound
	Government spending
	Liquidity trap
抄録	Implementation lags are one of policymakers’ concerns about fiscal policies, as these may reduce their efficacy. Using a standard New Keynesian model with an effective lower bound on the nominal interest rate, we compare the impacts of fiscal stimulus on output across various lengths of implementation lag. We show that despite concerns among policymakers, a fiscal authority can enhance the efficacy of government purchases on output with implementation lags when the economy is caught in a liquidity trap.
出版者	The Institute of Social and Economic Research, Osaka University
収録物名	Institute of Social and Economic Research Discussion Papers
巻(号)	1196
ページ	1-21
刊行年月	2022-11
言語	英語
ハンドルURL	https://hdl.handle.net/11094/89721
PISSN	0473453X
eISSN	24350982
関連情報 (references)	URI https://www.iser.osaka-u.ac.jp/static/resources/docs/dp/2022/DP1196.pdf
アクセス権	metadata only access
カテゴリ	ディスカッション／ワーキング・ペーパー DP/WP
カテゴリ	Institute of Social and Economic Research Discussion Papers

資源タイプ	テクニカルレポート
ローカル資源タイプ	ディスカッション／ワーキング・ペーパー
DCMI資源タイプ	text
DCTERMS.bibliographicCitation	Institute of Social and Economic Research Discussion Papers. 2022, 1196, p. 1-21
DC.title	Should the fiscal authority avoid implementation lag?
DC.creator	Eguchi, Masataka
	Niwa, Hidekazu
	Tsuruga, Takayuki
DC.publisher	The Institute of Social and Economic Research, Osaka University
DC.language' scheme='DCTERMS.RFC1766	英語
DC.type' scheme='DCTERMS.DCMIType	text
DCTERMS.issued' scheme='DCTERMS.W3CDTF	2022-11
DC.relation' scheme='DCTERMS.URI	https://www.iser.osaka-u.ac.jp/static/resources/docs/dp/2022/DP1196.pdf
DC.subject	Fiscal multiplier
	Effective lower bound
	Government spending
	Liquidity trap
DCTERMS.abstract	Implementation lags are one of policymakers’ concerns about fiscal policies, as these may reduce their efficacy. Using a standard New Keynesian model with an effective lower bound on the nominal interest rate, we compare the impacts of fiscal stimulus on output across various lengths of implementation lag. We show that despite concerns among policymakers, a fiscal authority can enhance the efficacy of government purchases on output with implementation lags when the economy is caught in a liquidity trap.
DC.format	89721
citation_title	Should the fiscal authority avoid implementation lag?
citation_author	Eguchi, Masataka
	Niwa, Hidekazu
	Tsuruga, Takayuki
citation_publisher	The Institute of Social and Economic Research, Osaka University
citation_language	英語
citation_date	2022-11
citation_journal_title	Institute of Social and Economic Research Discussion Papers
citation_volume	1196
citation_firstpage	1
citation_lastpage	21
citation_public_url	https://hdl.handle.net/11094/89721
citation_abstract_html_url	https://www.iser.osaka-u.ac.jp/static/resources/docs/dp/2022/DP1196.pdf

Should the fiscal authority avoid implementation lag?

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