What do we know about the macroeconomic effects of fiscal policy? A brief survey of the literature on fiscal multipliers

Vol: 
59/2018
Author name: 
Castelnuovo E
Lim G
Year: 
2018
Month: 
November
Abstract: 

This article reviews recent research findings on the effects of fiscal multipliers in normal times, during booms/busts, and in the presence of the zero lower bound. Studies on the effects of fiscal policy in open economy settings as well as contributions on the fiscal-monetary policy mix are also considered. We conclude by outlining a few research avenues that are particularly relevant from a policy standpoint.

Publication file: 

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