| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w25531 |
| 来源ID | Working Paper 25531 |
| Ten Years after the Financial Crisis: What Have We Learned from the Renaissance in Fiscal Research? | |
| Valerie A. Ramey | |
| 发表日期 | 2019-02-11 |
| 出版年 | 2019 |
| 语种 | 英语 |
| 摘要 | This paper takes stock of what we have learned from the “Renaissance” in fiscal research in the ten years since the financial crisis. I first summarize the new innovations in methodology and discuss the various strengths and weaknesses of the main approaches. Reviewing the estimates, I come to the surprising conclusion that the bulk of the estimates for average spending and tax change multipliers lie in a fairly narrow range, 0.6 to 1 for spending multipliers and -2 to -3 for tax change multipliers. However, I identify economic circumstances in which multipliers lie outside those ranges. I conclude by reviewing the debate on whether multipliers were higher on the stimulus spending in the U.S. and the fiscal consolidations in Europe. |
| 主题 | Macroeconomics ; Fiscal Policy |
| URL | https://www.nber.org/papers/w25531 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/583204 |
| 推荐引用方式 GB/T 7714 | Valerie A. Ramey. Ten Years after the Financial Crisis: What Have We Learned from the Renaissance in Fiscal Research?. 2019. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w25531.pdf（266KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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