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What Do We Know about the Macroeconomic Effects of Fiscal Policy? A Brief Survey of the Literature on Fiscal Multipliers

Efrem Castelnuovo () and Guay Lim ()

No 7366, CESifo Working Paper Series from CESifo Group Munich

Abstract: This article reviews recent research findings on the effects of fiscal multipliers in normal times, during booms/busts, and in the presence of the zero lower bound. Studies on the effects of fiscal policy in open economy settings as well as contributions on the fiscal-monetary policy mix are also considered. We conclude by outlining a few research avenues that are particularly relevant from a policy standpoint.

Keywords: fiscal multipliers; business cycle; fiscal spending taxes; monetary policy (search for similar items in EconPapers)
JEL-codes: E30 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-mac
Date: 2018
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Journal Article: What Do We Know About the Macroeconomic Effects of Fiscal Policy? A Brief Survey of the Literature on Fiscal Multipliers (2019) Downloads
Working Paper: What do we know about the macroeconomic effects of fiscal policy? A brief survey of the literature on fiscal multipliers (2018) Downloads
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