Successful Austerity in the United States, Europe and Japan

Working Paper No. 12/190

The output effects of 2009 fiscal expansions have been hotly debated. But the discussion of fiscal multipliers is even more relevant now that several European countries have had to quickly retract their stimulus measures in an effort to regain market confidence. Using regime-switching VARs we estimate the impact of fiscal adjustment on the... READ MORE...

Publication date: July 2012
ISBN 9781475505382

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Publication date: July 2012