Why Fiscal Stimulus is Unlikely to Work*

Kevin Allen Hassett ()

International Finance, 2009, vol. 12, issue 1, pages 75-91

Abstract: This paper reviews the empirical literature on countercyclical policy. It finds that three types of countercyclical policies have been studied in the literature: built-in stabilizers, temporary policy changes and more permanent policy changes. The literature is decidedly mixed on the effectiveness of temporary changes, but more hopeful concerning the other two. Copyright 2009 Blackwell Publishing Ltd

Date: 2009

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