【财税论坛】2014年第十三期（总第88期）
时间：2014-11-24题目：Spending Reversals and Fiscal Multipliers under an Interest Rate Peg
时间：2014年11月26日 星期三 12:00 – 14:00
地点：明德主楼714
报告人：李戎
摘要：This paper revisits the sizes of fiscal multipliers under a pegged nominal interest rate. Empirical evidence shows that a positive government spending shock triggers a buildup of public debt and is followed by a spending reversal, during the period that U.S. nominal interest rate was near zero or the monetary policy was passive. Theoretical analysis illustrates that the short-run impact of government spending shocks depend on expectations about future policy adjustment. If the monetary-fiscal expansion is associated with an anticipated spending reversal, private consumption response can be negative and the output multiplier is not necessarily greater than unity
报告人简介：李戎，2014年于美国Ohio State University获得博士学位，现为中国人民大学财政金融学院讲师，主要研究领域为货币与财政政策、宏观经济学、财政学和应用计量等，在European Economic Review等杂志发表论文，并有多篇工作论文。
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财税论坛是由中国人民大学财政与税收研究所主办，旨在研讨公共经济学中的理论研究和政策实践等问题，促进理论研究和公共政策的有效结合。论坛主题主要包括：政府行为、财政体制、税收体制及宏观经济等。诚邀各位同仁前来报告与研讨！
论坛主持人：薛涧坡（jpxue@ruc.edu.cn）