between multiplier size and the import share. Employing an interacted panel VAR model for EU countries, we estimate the effect …

We propose a theory of indebted demand, capturing the idea that large debt burdens by households and governments lower … aggregate demand, and thus natural interest rates. At the core of the theory is the simple yet under-appreciated observation …

multiplier is sensitive to the assumption of orthogonality between total factor productivity (non-fiscal proxy) and tax shocks …. If this correlation is assumed to be zero, the tax multiplier is found to be around one. If such correlation is non …-zero, as supported by our empirical evidence, we find a tax multiplier three times as large. Second, we find the spending …

when a small probability that some future government will exploit has a multiplier effect on earlier decisions. The … multiplier can be taken advantage of by a lobby paying for exploitation, or by a donor compensating for conservation. The …

impact inflation, little crowding out of private expenditure exists, and the multiplier tends to be larger compared to a one …