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New Keynesian versus Old Keynesian Government Spending Multipliers
New Keynesian versus Old Keynesian Government
2015/8/3
Renewed interest in fiscal policy has increased the use of quantitative models to
evaluate policy. Because of modelling uncertainty, it is essential that policy evaluations
be robust to alternative ...
Those studying modern economies often puzzle about how small causes are amplified to cause disproportionately large effects. A leading example that emerged even before Samuelson began his professional...
This paper investigates the relation between growth forecast errors and planned fiscal consolidation during the crisis. We find that, in advanced economies, stronger planned fiscal consolidation has b...