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The keynesian multiplier in recession: why fiscal stimulus is now even more necessary in the eurozone?

Sebastien Charles, Thomas Dallery and Jonathan Marie

CEPN Policy Brief, 2015, vol. 7, 1-4

Abstract: The Great Recession has revived economic policy debates from the 1930s between the advocates of a balanced budget under all circumstances and the supporters of counter-cyclical fiscal policies. Since 2012, a consensus has emerged that fiscal policy is more effective in recessions that during periods of growth. Now, new studies have explained why fiscal multipliers are usually higher in times of recession. These results confirm the pressing need for fiscal stimulus in Europe.

Keywords: Keynesian multiplier; recession; Fiscal policy (search for similar items in EconPapers)
JEL-codes: E12 (search for similar items in EconPapers)
Date: 2015
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