The IMF grabbed headlines and upset officials earlier this month when it released an analysis which concluded that, starting in 2009, the fiscal policy multiplier has actually been considerably larger than previously supposed (IMF 2012).
Gauging the multiplier: Lessons from history
Barry Eichengreen, Kevin Hjortshøj O’Rourke, 23 October 2012
What is the size of the multiplier? An estimate one can’t refuse
Giancarlo Corsetti, Saverio Simonelli, Antonio Acconcia, 4 April 2011
How much more demand, output, and employment can we expect from expansionary fiscal stimulus? Conversely, how much macroeconomic pain can we expect from a contraction dictated by the need to keep public debt on a sustainable path?
Measuring the output responses to fiscal policy
Alan J Auerbach, Yuriy Gorodnichenko, 3 September 2010
The effect of fiscal policy on output – and its components – has long been a central part of fiscal policy analysis. And yet, as has been made clear by the recent debate over the likely effects of fiscal stimulus in the US and elsewhere, economists are a long way from reaching a consensus. Indeed economists remain divided over areas such as:
How big are fiscal multipliers? New evidence from new data
Enrique G. Mendoza, Carlos A. Vegh , Ethan Ilzetzki, 1 October 2009
The economics profession did not and does not agree on one question that is critical in the evaluating governments’ responses to the crisis: How large is the stimulus impact of fiscal spending?
The fiscal stimulus debate: “Bone-headed” and “Neanderthal”?
Volker Wieland, 31 March 2009
Not long ago, Paul Krugman warned European governments that
A lot of bucks, but how much bang?
Richard Clarida, 16 March 2009
“We have involved ourselves in a colossal muddle, having blundered in control of a delicate machine, the workings of which we do not understand” - John Maynard Keynes, “The Great Slump of 1930”, published December 1930.
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- The ECB’s stealth bailoutSinn
- Educated in America: College graduates and high school dropoutsHeckman, LaFontaine
- Eurozone breakup would trigger the mother of all financial crisesEichengreen
- Panic-driven austerity in the Eurozone and its implicationsDe Grauwe, Ji
Ostry, Berg, Tsangarides
Allen, Eichengreen, Evans
Greenwood, Guner, Kocharakov, Santos
CEPR Policy Research
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- Commodity and Equity Markets: Some Stylized Facts from a Copula ApproachDelatte, Lopez
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- Finance and Poverty: Evidence from IndiaAyyagari, Beck, Hoseini
- The Manipulation of Basel Risk-WeightsMariathasan, Merrouche
- Making city lights shine brighterYusuf, Leipziger
- The euro in the 'currency war'Bénassy-Quéré, Martin
- The roots of shadow bankingPerotti
- What’s wrong with Europe?Baldini, Manasse
- How the EZ crisis is permanently changing EU institutionsMicossi
- 21st Century Challenges: The Mobile Middle Class13 - 13 March 2014 / Royal Geographical Society, 1 Kensington Gore, SW7 London / Royal Geographical Society (with IBG)
- The 13th Annual GEP Postgraduate Conference 20141 - 2 May 2014 / Nottingham / Sponsored by Nottingham Centre for Research on Globalisation and Economic Policy (GEP) University of Nottingham, United Kingdom
- Exchange Rates and External Adjustment2 - 3 June 2014 / Zurich / Swiss National Bank
- 13th Summer School in International Development Economics: Investment, Saving and Wellbeing in Developing Countries10 - 13 June 2014 / Palazzo Feltrinelli, Gargnano, Lake Garda (Italy) / Organisers: Centro