Boussard, Jocelyn; Castro, Francisco de; Salto, Matteo - Directorate-General Economic and Financial Affairs, … - 2012
fiscal multipliers, the starting debt level and the cyclical elasticity of the budget balance. We also assess the role of … sizeable fiscal multipliers, debt ratios are likely to increase in the short term in response to fiscal consolidations. Hence … horizon depends critically on the size and persistence of fiscal multipliers and the reaction of financial markets. Anyway …