Fiscal mulipliers: are view of the empirical literature

This paper reviews the recent investigations aimed to quantifying the economic

impact of discretionary fiscal policy, what is known as fiscal multipliers.

Specially, we stress the methodological topics and use several perspectives

to assess the outcomes. Covered works show a wide variety of estimations,

depending mostly on the hypothesis used and the conditions of each country.

On the other hand, we find a set of plausible conditions that provide positive

effects of discretionary fiscal policy on private components of aggregate demand.

Juan Antonio CERÓN CRUZ
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