How Delaying Fiscal Consolidation Affects the Present Value of GDP

How Delaying Fiscal Consolidation Affects the Present Value of GDP
We develop a simple model to examine the conditions under which delaying fiscalconsolidation can affect the present value of GDP via the fiscal stance's effects on theoutput gap and hysteresis. We find that the absolute size of the fiscal multiplier—the focusof much empirical investigation and policy debate—is likely inconsequential in... READ MORE...

Publication date: March 2015
ISBN 9781498393577
$18.00

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