In recessions, unemployment increases despite the—perhaps counterintuitive—fact that thenumber of unemployed workers … finding jobs expands. On net, unemployment rises only becauseeven more workers lose their jobs. We propose a theory of … unemployment fluctuations resting onthis countercyclicality of gross flows from unemployment into employment. In recessions …

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

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 …

We study empirically how various labor market institutions – (i) union density, (ii) unemployment benefit remuneration …

inflation from its trend, implying that the more demand-driven a recession, the higher the multiplier. Median multipliers range …

assess whether New Keynesian Economics captures the quintessential features stressed by J.M. Keynes. Particular attention is … paid to Keynesian features omitted in New Keynesian workhorses such as the micro-founded Keynesian multiplier and the New …. Furthermore, they fail to allow for quantity rationing and to model unemployment as a catastrophic event. The macroeconomics based …