Baum, Anja; Poplawski-Ribeiro, Marcos; Weber, Anke - International Monetary Fund (IMF) - 2012
Only a few empirical studies have analyzed the relationship between fiscal multipliers and the underlying state of the … show that fiscal multipliers differ across countries, calling for a tailored use of fiscal policy. Moreover, the position … multipliers tend to be larger in downturns than in expansions. This asymmetry has implications for the choice between an upfront …