We show that the largest increase in unemployment benefits in U.S. history had large spending impacts and small job …

through unemployment insurance (UI). We introduce a novel empirical test of standard neoclassical models of fertility that … the interaction of the aggregate unemployment rate with a measure of potential income replacement from UI. Our results … show that as UI benefit generosity reaches 100 percent income replacement, there is no effect of the unemployment rate on …

recession may yield biased results by ignoring whether government spending is increasing or decreasing. In the case of OECD ….3 compared to 1.3 if we just distinguish between recession and expansion. In extreme recessions, the long-run multiplier reaches …

shocks that push interest rates to the zero bound, a temporary fiscal stimulus or a policy of fiscal austerity, appropriately …

concept to account for the cross-country variation in the fiscal stimulus associated with the global crisis of 2009-2010. We …, and lower trade openness were associated with a higher fiscal stimulus/GDP during 2009-2010. Joint estimation indicates … that higher trade openness was associated with lower fiscal stimulus and higher depreciation rate during 2009-2010 …