Working Paper
What Do We Know about the Macroeconomic Effects of Fiscal Policy? A Brief Survey of the Literature on Fiscal Multipliers
Efrem Castelnuovo, Guay C. Lim
CESifo, Munich, 2018
CESifo Working Paper No. 7366
CESifo, Munich, 2018
CESifo Working Paper No. 7366
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.
CESifo Category
Fiscal Policy, Macroeconomics and Growth
Monetary Policy and International Finance
Fiscal Policy, Macroeconomics and Growth
Monetary Policy and International Finance
JEL Classification: E300