Medium-Term Fiscal Multipliers during Protracted Recessions

Medium-Term Fiscal Multipliers during Protracted Recessions
The paper examines the consequences of fiscal consolidation in times of persistently lowgrowth and high unemployment by estimating medium-term fiscal multipliers duringprotracted recessions (PR) in a sample of 17 OECD countries. Based on Jorda's (2005)local projection methodology, we find that cumulative fiscal multipliers related to... READ MORE...

Publication date: December 2014
ISBN 9781498336192
$18.00

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