The Effects of Discretionary Fiscal Policy on Macroeconomic Aggregates: A Reappraisal
Goethe University Frankfurt - Faculty of Economics and Business Administration
Journal of Economic Surveys, Vol. 25, Issue 4, pp. 674-707, 2011
Fiscal stimuli to recover? A cascade of academic and layman articles debate the effectiveness of fiscal policy in stimulating the economy backed up by different economic models and empirical support. This paper surveys the theoretical predictions and recent empirical vector autoregression evidence on the short‐run effects of discretionary fiscal policy on macroeconomic aggregates.
Number of Pages in PDF File: 34
Keywords: Fiscal policy, Fiscal stimulus, Macroeconomic policy, Multipliers, VARAccepted Paper Series
Date posted: July 24, 2011
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