Gauging the multiplier: Lessons from history

Barry Eichengreen, Kevin Hjortshøj O’Rourke, 23 October 2012

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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).

Topics: Global crisis, Macroeconomic policy
Tags: multiplier

What is the size of the multiplier? An estimate one can’t refuse

Giancarlo Corsetti, Saverio Simonelli, Antonio Acconcia, 4 April 2011

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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?

Topics: Frontiers of economic research, Macroeconomic policy
Tags: fiscal multiplier, fiscal stimulus, Italy, mafia, multiplier

Measuring the output responses to fiscal policy

Alan J Auerbach, Yuriy Gorodnichenko, 3 September 2010

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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:

Topics: Global crisis, Macroeconomic policy
Tags: fiscal policy, fiscal stimulus, global crisis, multiplier

How big are fiscal multipliers? New evidence from new data

Enrique G. Mendoza, Carlos A. Vegh , Ethan Ilzetzki, 1 October 2009

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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?

Topics: Macroeconomic policy
Tags: fiscal multiplier, fiscal policy, global crisis, multiplier

The fiscal stimulus debate: “Bone-headed” and “Neanderthal”?

Volker Wieland, 31 March 2009

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Not long ago, Paul Krugman warned European governments that

Topics: Macroeconomic policy
Tags: fiscal policy, fiscal stimulus, multiplier

A lot of bucks, but how much bang?

Richard Clarida, 16 March 2009

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“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.

Topics: Global crisis
Tags: fiscal policy, global crisis debate, global financial crisis, multiplier, stimulus

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