What do we know about the macroeconomic effects of fiscal policy? A brief survey of the literature on fiscal multipliers
Vol:
59/2018
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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