policy effectiveness, output persistence and multiplier effects …

) a fiscal multiplier of one and so a missing intercept close to zero. I also discuss the robustness of this aggregation …

flow multiplier''. The main contribution of the paper, however, is empirical. Using a very extensive data set comprised of … more than 13,000 fims over 44 years we examine the determinants of the cash flow multiplier using as explanatory variables …

Factor supply increases (depresses) output for many of the same reasons that the government spending multiplier might …" and suggest that the government spending multiplier is less than one, even during the recession …

We argue that the government-spending multiplier can be much larger than one when the zero lower bound on the nominal … larger is the value of the multiplier. After providing intuition for these results, we investigate the size of the multiplier … in a dynamic, stochastic, general equilibrium model. In this model the multiplier effect is substantially larger than one …

multiplier where aggregate relationships will overstate individual elasticities. We present a brief model and then estimate the … size of the social multiplier in three areas: the impact of education on wages, the impact of demographics on crime and … group membership among Dartmouth roommates. In all three areas there appears to be a significant social multiplier …