CRAIGWELL, ROLAND; Lorde, Troy; Moore, Winston - 2011
be employed to shorten the recession. This study estimates a model of the duration of financial crises in an attempt to … identify whether fiscal policy can reduce the time to recovery. The results suggest that fiscal shocks, which could provoke an … overreaction on the part of markets, tend to lengthen crisis duration. Significant nonlinear effects of government spending are …