From its publication in The Times in 1933, John Maynard Keynes’s investment multiplier sparked much debate and … theoretical merits of this multiplier. Even the biggest opponents like Friedman have only questioned the multiplier value, judged … to be closed from 1 in the permanent income that competes with it. We will show in this first article that the multiplier …

Motivated by the apparent failure of the credit multiplier mechanism (CM) to deliver amplification in DSGE models, we …

Fiscal spending multiplier calculations have been revived in the aftermath of the global financial crisis. Much of the … current literature is based on VAR estimation methods and DSGE models. The aim of this paper is not a further deepening of … multiplier for EU members. Multipliers for specific spending categories are comparably high, ranging between 1.4 and 1.8 for many …

This paper examines issues related to the estimation of the government spending multiplier (GSM) in a Dynamic … to cross-equation restrictions, omitting the endogenous component of government policy at the estimation stage would lead …