NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Liquidity Traps and Expectation Dynamics: Fiscal Stimulus or Fiscal Austerity?

Jess Benhabib, George W. Evans, Seppo Honkapohja

NBER Working Paper No. 18114
Issued in May 2012

---- Acknowledgements -----

Financial support from National Science Foundation Grant no. SES-1025011 is gratefully acknowledged. Any views expressed are those of the authors and do not necessarily reflect the views of the Bank of Finland or the National Bureau of Economic Research.

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