Cimadomo, Jacopo; Bénassy-Quéré, Agnès - In: Journal of Macroeconomics 34 (2012) 3, pp. 845-873
This paper documents time variation in fiscal policy multipliers in Germany, the UK and the US over the period 1971–2009. The analysis is based on a quarterly vector autoregression (VAR) model. For the German and the UK cases, the VAR is augmented by “global factors” representing...