Bi, Ran; Qu, Haonan; Roaf, James - International Monetary Fund (IMF) - 2013
due more to over-optimism on potential growth estimates than to underestimating fiscal multipliers. …-year fiscal adjustment. The framework allows country-specific assumptions about the magnitude and persistence of fiscal … multipliers, hysteresis effects, and endogenous financing costs. In addition to informing macro projections, the framework can …