Blot, Christophe; Cochard, Marion; Creel, Jérôme; … - Department of Economics, Sciences économiques - 2014
Recent evidence has renewed views on the size of fiscal multipliers. It is notably emphasized that fiscal multipliers … fiscal strategy led by euro area countries. Constrained by fiscal rules and by speculative attacks in financial markets, euro … area members have adopted restrictive fiscal policies despite strong negative output gaps. Based on the model, we present …