Di Serio, Mario; Fragetta, Matteo; Gasteiger, Emanuel; … - 2022
We estimate government spending multipliers in demand- and supply-driven recessions for the Euro Area. Multipliers in a … multipliers being non-zero with very high probability. More generally, multipliers are inversely correlated with the deviation of … inflation from its trend, implying that the more demand-driven a recession, the higher the multiplier. Median multipliers range …