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
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)
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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)
Working Paper: What do we know about the macroeconomic effects of fiscal policy? A brief survey of the literature on fiscal multipliers (2018)
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Persistent link: https://EconPapers.repec.org/RePEc:ces:ceswps:_7366
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