Should the Fiscal Authority Avoid Implementation Lag?

Eguchi, Masataka; Niwa, Hidekazu; Tsuruga, Takayuki

Oxford Bulletin of Economics and Statistics, 2024, 86(4), 856-870

Number of Access:442（2025-11-05 18:09 Counts）

Identifier to cite or link to this item: https://hdl.handle.net/11094/95278

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Title
Should the Fiscal Authority Avoid Implementation Lag?
Creator
NRID
1000040600507 1000040600507
CreatorName
Eguchi, Masataka
researchmap permalink
niwahidekazu niwahidekazu
NRID
1000060964682 1000060964682
CreatorName
Niwa, Hidekazu
NRID
1000040511720 1000040511720
ORCID
0000-0002-8177-2330 0000-0002-8177-2330
researchmap permalink
7000008934 7000008934
Scopus Author ID
16424964300 16424964300
CreatorName
Tsuruga, Takayuki
Description
Eguchi M., Niwa H., Tsuruga T.. Should the Fiscal Authority Avoid Implementation Lag?. Oxford Bulletin of Economics and Statistics , (2024); https://doi.org/10.1111/obes.12604.
Abstract
Implementation lags are a concern of policymakers as they may reduce the efficacy of fiscal policy. 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, implementation lags may enhance the efficacy of government purchases on output when the economy is caught in a liquidity trap.
Publisher
John Wiley and Sons Inc
Source Title
Oxford Bulletin of Economics and Statistics
Volume (Issue)
86(4)
Page
856-870
Date of Issued
2024-03-03
Language
English
Handle URL
https://hdl.handle.net/11094/95278
PISSN
03059049
eISSN
14680084
Relation.isIdenticalTo
DOI (Publisher Version)
https://doi.org/10.1111/obes.12604
Access Rights
open access
CopyRight
This article is licensed under a Creative Commons Attribution 4.0 International License.
oaire:version
Version of Record
Category
学術雑誌論文 Journal Article