Table 8.

Fiscal multipliers given a pandemic shock, both households consume services.

Instrument	Description	${\mathcal{M}}_{20}\left(\omega \right),$ Employment	${\mathcal{M}}_{20}\left(\omega \right),$ Income	${\mathcal{M}}_{20}\left(\omega \right),$$C_t^b$	${\mathcal{M}}_{20}\left(\omega \right),$$C_t^s$	${\mathcal{M}}_{20}\left(\omega \right),$ GDP
$G$	Govt. Consumption	1.1525	0.5414	0.4836	$-$0.0800	1.1755
${\tau }_t^l$	Income Tax	0.4470	1.2691	1.1743	$-$0.1892	0.4296
$\varsigma$	UI	0.4550	1.3375	1.1356	$-$0.1480	0.4347
$T_t^b$	Uncond. Transfer	0.4210	1.1983	1.1277	$-$0.1945	0.4055
$T_t^a$	Liquidity Assist.	2.0317	0.9556	0.9064	$-$0.3483	0.2237