{"id":"https://openalex.org/W4383343571","doi":"https://doi.org/10.1017/s1365100523000251","title":"Government spending multipliers with the Real Cost channel","display_name":"Government spending multipliers with the Real Cost channel","publication_year":2023,"publication_date":"2023-07-06","ids":{"openalex":"https://openalex.org/W4383343571","doi":"https://doi.org/10.1017/s1365100523000251"},"language":"en","primary_location":{"id":"doi:10.1017/s1365100523000251","doi":"https://doi.org/10.1017/s1365100523000251","is_oa":false,"landing_page_url":"https://doi.org/10.1017/s1365100523000251","pdf_url":null,"source":{"id":"https://openalex.org/S136745531","display_name":"Macroeconomic Dynamics","issn_l":"1365-1005","issn":["1365-1005","1469-8056"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","erih-plus","jufo-1","norway-1","poland-100","russia-white-list-2","vabb-shw"],"host_organization":"https://openalex.org/P4310311721","host_organization_name":"Cambridge University Press","host_organization_lineage":["https://openalex.org/P4310311721","https://openalex.org/P4310311702"],"host_organization_lineage_names":["Cambridge University Press","University of Cambridge"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Macroeconomic Dynamics","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://doi.org/10.2139/ssrn.3930472","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5002249356","display_name":"He Nie","orcid":"https://orcid.org/0000-0002-3544-6825","observed_orcids":["https://orcid.org/0000-0002-3544-6825"]},"institutions":[{"id":"https://openalex.org/I37461747","display_name":"Wuhan University","ror":"https://ror.org/033vjfk17","country_code":"CN","type":"education","lineage":["https://openalex.org/I37461747"]}],"countries":["CN"],"is_corresponding":true,"raw_author_name":"He Nie","raw_affiliation_strings":["Economics and Management School, Wuhan University, Wuhan, China"],"raw_orcid":"https://orcid.org/0000-0002-3544-6825","affiliations":[{"raw_affiliation_string":"Economics and Management School, Wuhan University, Wuhan, China","institution_ids":["https://openalex.org/I37461747"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":["https://openalex.org/A5002249356"],"corresponding_institution_ids":["https://openalex.org/I37461747"],"apc_list":{"value":3255,"currency":"USD","value_usd":3255},"apc_paid":null,"fwci":0.9557,"has_fulltext":false,"cited_by_count":3,"citation_normalized_percentile":{"value":0.77498383,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":{"min":92,"max":96},"biblio":{"volume":"28","issue":"4","first_page":"791","last_page":"812"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.9937000274658203,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.9937000274658203,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12137","display_name":"Economic theories and models","score":0.00430000014603138,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11742","display_name":"Economic Theory and Policy","score":0.000699999975040555,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/government-spending-multiplier","display_name":"government spending multiplier","score":0.9549999833106995},{"id":"https://openalex.org/keywords/new-keynesian-phillips-curve","display_name":"New Keynesian Phillips curve","score":0.9470000267028809},{"id":"https://openalex.org/keywords/liquidity-trap","display_name":"liquidity trap","score":0.7559999823570251},{"id":"https://openalex.org/keywords/zero-lower-bound","display_name":"zero lower bound","score":0.9980000257492065},{"id":"https://openalex.org/keywords/output-gap","display_name":"output gap","score":0.6690000295639038},{"id":"https://openalex.org/keywords/inflation","display_name":"inflation","score":0.5410000085830688},{"id":"https://openalex.org/keywords/real-interest-rates","display_name":"real interest rates","score":0.8510000109672546}],"concepts":[{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.7788339853286743},{"id":"https://openalex.org/C10688316","wikidata":"https://www.wikidata.org/wiki/Q936174","display_name":"New Keynesian economics","level":3,"score":0.6214038133621216},{"id":"https://openalex.org/C2781356325","wikidata":"https://www.wikidata.org/wiki/Q1929688","display_name":"Government spending","level":3,"score":0.6120612621307373},{"id":"https://openalex.org/C124584101","wikidata":"https://www.wikidata.org/wiki/Q1053266","display_name":"Multiplier (economics)","level":2,"score":0.6026226282119751},{"id":"https://openalex.org/C2778078003","wikidata":"https://www.wikidata.org/wiki/Q8069596","display_name":"Zero lower bound","level":3,"score":0.5375651121139526},{"id":"https://openalex.org/C84888623","wikidata":"https://www.wikidata.org/wiki/Q1205832","display_name":"Nominal interest rate","level":4,"score":0.4850427508354187},{"id":"https://openalex.org/C127162648","wikidata":"https://www.wikidata.org/wiki/Q16858953","display_name":"Channel (broadcasting)","level":2,"score":0.48382917046546936},{"id":"https://openalex.org/C98763669","wikidata":"https://www.wikidata.org/wiki/Q176645","display_name":"Markov chain","level":2,"score":0.4795610308647156},{"id":"https://openalex.org/C200941418","wikidata":"https://www.wikidata.org/wiki/Q273508","display_name":"Inflation (cosmology)","level":2,"score":0.45706596970558167},{"id":"https://openalex.org/C8573378","wikidata":"https://www.wikidata.org/wiki/Q923190","display_name":"Liquidity trap","level":4,"score":0.44792720675468445},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.44543200731277466},{"id":"https://openalex.org/C63479239","wikidata":"https://www.wikidata.org/wiki/Q7353546","display_name":"Robustness (evolution)","level":3,"score":0.4340088963508606},{"id":"https://openalex.org/C175025494","wikidata":"https://www.wikidata.org/wiki/Q179179","display_name":"Interest rate","level":2,"score":0.42476987838745117},{"id":"https://openalex.org/C2778774626","wikidata":"https://www.wikidata.org/wiki/Q220841","display_name":"Phillips curve","level":3,"score":0.42442435026168823},{"id":"https://openalex.org/C126285488","wikidata":"https://www.wikidata.org/wiki/Q178476","display_name":"Monetary policy","level":2,"score":0.41974180936813354},{"id":"https://openalex.org/C154815372","wikidata":"https://www.wikidata.org/wiki/Q1140421","display_name":"Real interest rate","level":3,"score":0.3942175805568695},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.3852224349975586},{"id":"https://openalex.org/C144237770","wikidata":"https://www.wikidata.org/wiki/Q747534","display_name":"Mathematical economics","level":1,"score":0.32314038276672363},{"id":"https://openalex.org/C183582576","wikidata":"https://www.wikidata.org/wiki/Q184783","display_name":"Market liquidity","level":2,"score":0.3182101249694824},{"id":"https://openalex.org/C165556158","wikidata":"https://www.wikidata.org/wiki/Q83937","display_name":"Keynesian economics","level":1,"score":0.29111114144325256},{"id":"https://openalex.org/C100243477","wikidata":"https://www.wikidata.org/wiki/Q12002092","display_name":"Welfare","level":2,"score":0.2631766200065613},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.1701555848121643},{"id":"https://openalex.org/C33923547","wikidata":"https://www.wikidata.org/wiki/Q395","display_name":"Mathematics","level":0,"score":0.14582881331443787},{"id":"https://openalex.org/C76155785","wikidata":"https://www.wikidata.org/wiki/Q418","display_name":"Telecommunications","level":1,"score":0.08218121528625488},{"id":"https://openalex.org/C105795698","wikidata":"https://www.wikidata.org/wiki/Q12483","display_name":"Statistics","level":1,"score":0.079252690076828},{"id":"https://openalex.org/C121332964","wikidata":"https://www.wikidata.org/wiki/Q413","display_name":"Physics","level":0,"score":0.07266151905059814},{"id":"https://openalex.org/C33332235","wikidata":"https://www.wikidata.org/wiki/Q18362","display_name":"Theoretical physics","level":1,"score":0.0},{"id":"https://openalex.org/C104317684","wikidata":"https://www.wikidata.org/wiki/Q7187","display_name":"Gene","level":2,"score":0.0},{"id":"https://openalex.org/C189259953","wikidata":"https://www.wikidata.org/wiki/Q1042259","display_name":"Liquidity risk","level":3,"score":0.0},{"id":"https://openalex.org/C185592680","wikidata":"https://www.wikidata.org/wiki/Q2329","display_name":"Chemistry","level":0,"score":0.0},{"id":"https://openalex.org/C34447519","wikidata":"https://www.wikidata.org/wiki/Q179522","display_name":"Market economy","level":1,"score":0.0},{"id":"https://openalex.org/C55493867","wikidata":"https://www.wikidata.org/wiki/Q7094","display_name":"Biochemistry","level":1,"score":0.0}],"mesh":[],"locations_count":3,"locations":[{"id":"doi:10.1017/s1365100523000251","doi":"https://doi.org/10.1017/s1365100523000251","is_oa":false,"landing_page_url":"https://doi.org/10.1017/s1365100523000251","pdf_url":null,"source":{"id":"https://openalex.org/S136745531","display_name":"Macroeconomic Dynamics","issn_l":"1365-1005","issn":["1365-1005","1469-8056"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","erih-plus","jufo-1","norway-1","poland-100","russia-white-list-2","vabb-shw"],"host_organization":"https://openalex.org/P4310311721","host_organization_name":"Cambridge University Press","host_organization_lineage":["https://openalex.org/P4310311721","https://openalex.org/P4310311702"],"host_organization_lineage_names":["Cambridge University Press","University of Cambridge"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Macroeconomic Dynamics","raw_type":"journal-article"},{"id":"doi:10.2139/ssrn.3930472","doi":"https://doi.org/10.2139/ssrn.3930472","is_oa":true,"landing_page_url":"https://doi.org/10.2139/ssrn.3930472","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"acceptedVersion","is_accepted":true,"is_published":false,"raw_source_name":null,"raw_type":"posted-content"},{"id":"pmh:oai:RePEc:cup:macdyn:v:28:y:2024:i:4:p:791-812_2","doi":null,"is_oa":false,"landing_page_url":"https://www.cambridge.org/core/product/identifier/S1365100523000251/type/journal_article","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"}],"best_oa_location":{"id":"doi:10.2139/ssrn.3930472","doi":"https://doi.org/10.2139/ssrn.3930472","is_oa":true,"landing_page_url":"https://doi.org/10.2139/ssrn.3930472","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"acceptedVersion","is_accepted":true,"is_published":false,"raw_source_name":null,"raw_type":"posted-content"},"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":65,"referenced_works":["https://openalex.org/W988647837","https://openalex.org/W1540757224","https://openalex.org/W1561613049","https://openalex.org/W1905678139","https://openalex.org/W1975063543","https://openalex.org/W2001397260","https://openalex.org/W2004155413","https://openalex.org/W2038799475","https://openalex.org/W2062649741","https://openalex.org/W2081102312","https://openalex.org/W2084821910","https://openalex.org/W2095669527","https://openalex.org/W2096064009","https://openalex.org/W2100946788","https://openalex.org/W2101665611","https://openalex.org/W2104165247","https://openalex.org/W2104610120","https://openalex.org/W2108698692","https://openalex.org/W2111898692","https://openalex.org/W2120532801","https://openalex.org/W2127418891","https://openalex.org/W2134563372","https://openalex.org/W2134689741","https://openalex.org/W2135359744","https://openalex.org/W2136798818","https://openalex.org/W2140898820","https://openalex.org/W2149132484","https://openalex.org/W2162734271","https://openalex.org/W2169705395","https://openalex.org/W2178583389","https://openalex.org/W2360654949","https://openalex.org/W2444409206","https://openalex.org/W2533363307","https://openalex.org/W2547186548","https://openalex.org/W2566240768","https://openalex.org/W2593997572","https://openalex.org/W2593999556","https://openalex.org/W2615106683","https://openalex.org/W2784428980","https://openalex.org/W2885955945","https://openalex.org/W2898540939","https://openalex.org/W2903876532","https://openalex.org/W3014133454","https://openalex.org/W3021380087","https://openalex.org/W3037156065","https://openalex.org/W3093485071","https://openalex.org/W3121197271","https://openalex.org/W3121293400","https://openalex.org/W3121417156","https://openalex.org/W3122693210","https://openalex.org/W3122766572","https://openalex.org/W3123144474","https://openalex.org/W3125135614","https://openalex.org/W3125309305","https://openalex.org/W3125529258","https://openalex.org/W3125642192","https://openalex.org/W3125742000","https://openalex.org/W3183059584","https://openalex.org/W3199753978","https://openalex.org/W3203541249","https://openalex.org/W4289525873","https://openalex.org/W4296974713","https://openalex.org/W4298105900","https://openalex.org/W4324345082","https://openalex.org/W4390427412"],"related_works":["https://openalex.org/W3125742000","https://openalex.org/W591742011","https://openalex.org/W4401181996","https://openalex.org/W2293166056","https://openalex.org/W7096984093","https://openalex.org/W7096167579","https://openalex.org/W3023059915","https://openalex.org/W2188647071","https://openalex.org/W2280864981","https://openalex.org/W3124289297"],"abstract_inverted_index":{"Abstract":[0],"In":[1],"the":[2,10,35,41,49,62,98,101],"benchmark":[3],"New":[4],"Keynesian":[5],"(NK)":[6],"model,":[7],"I":[8,53,96],"introduce":[9],"real":[11,63,85,102],"cost":[12,37,64,103],"channel":[13,38,65],"to":[14],"study":[15],"government":[16,59],"spending":[17,60],"multipliers":[18,107],"and":[19],"provide":[20],"simple":[21],"Markov":[22],"chain":[23],"closed-form":[24],"solutions.":[25],"This":[26,78],"model":[27,74],"departs":[28],"fundamentally":[29],"from":[30],"most":[31],"previous":[32],"interpretations":[33],"of":[34,100,110],"nominal":[36],"by":[39],"flattening":[40],"NK":[42],"Phillips":[43],"Curve":[44],"in":[45,72,84,89],"liquidity":[46],"traps.":[47],"At":[48],"zero":[50],"lower":[51,91],"bound,":[52],"show":[54],"analytically":[55],"that":[56],"following":[57],"positive":[58],"shocks,":[61],"can":[66],"make":[67],"inflation":[68],"rise":[69],"less":[70],"than":[71],"a":[73,81,90],"without":[75],"this":[76],"channel.":[77],"then":[79],"causes":[80],"smaller":[82],"drop":[83],"interest":[86],"rates,":[87],"resulting":[88],"output":[92],"gap":[93],"multiplier.":[94],"Finally,":[95],"confirm":[97],"robustness":[99],"channel\u2019s":[104],"effect":[105],"on":[106],"using":[108],"extensions":[109],"two":[111],"models.":[112]},"counts_by_year":[{"year":2026,"cited_by_count":1},{"year":2025,"cited_by_count":2}],"updated_date":"2026-11-04T10:54:05.112534","created_date":"2023-07-07T00:00:00"}
