) than weak. For instance, the long-run multiplier can be as large as unity when the fiscal position is strong, while it can … business cycle on the fiscal multiplier. Third, the state-dependent effects of the fiscal position on multipliers is …

exogenous factors. The tax-cut multiplier varies between 0.2 and 0.5, while the spending multiplier ranges between 0.2 and 1 ….1; the spending multiplier tends to be larger than the tax-cut multiplier over the past two decades …

decreases, the "true" long-run multiplier for bad times (and government spending going up) turns out to be 2.3 compared to 1 … fact that the multiplier for recessions and government spending going down (the "when-it-rains-it-pours" phenomenon) is …

-agent New Keynesian model, this paper shows analytically that the multiplier on targeted transfers to financially constrained … households is (i) larger than the purchase multiplier if the zero lower bound (ZLB) binds, and (ii) is more sensitive to the …, such as when the zero lower bound binds, the extra inflation from lower supply boosts the multiplier. This result also …

year later and 0.32 job two years later. The multiplier is modest during the 2002-2007 boom and is large during the Great …

sample of 102 developing countries. The one-year government spending multiplier is reasonably-precisely estimated to be …

) spending leads to a maximum output multiplier of around 2.7 during growth recessions, and around 2 in normal times. The returns …