1. Simple model: live calculation
This version has a formula for the multiplier, so your browser computes it as you move the sliders. Its assumption: the tax ends the moment the trap ends. The sliders open at the thesis calibration; other settings go beyond the thesis.
Normal times
Liquidity trap
2. Full dynamic model: thesis results
This version drops the shortcut: the trap ends on its own and the tax can linger after it. That reverses the ranking under a balanced budget. These results come from model runs (Dynare), not live calculation.
Normal times, total effect
Liquidity trap, total effect
Show as a table
| Measure | Normal times | Liquidity trap |
|---|
All values here are thesis scenarios, recomputed with free tools. Total effect means the present-value multiplier over 500 quarters.