Colombo, Emilio; Furceri, Davide; Pizzuto, Pietro; … - 2024
This paper investigates the role of informality in affecting the magnitude of the public expenditure multiplier in a … informality and the size of the multiplier. This result holds irrespective of the level of economic development and institutional … informality, because a larger informal sector is associated with a stronger appreciation of relative prices in response to fiscal …
