Chapters 8, 9 and 10 set out Keynes’ theory of consumer behavior. Chapter 8 is entitled The Propensity to Consume: I … Propensity to Consume and the Multiplier. Contrary to the widely held belief, Keynes saw the consumer as an intertemporally … psychological propensities. Chapter 10 formally introduces the marginal propensity to consume and the multiplier. …

This paper examines issues related to the estimation of the government spending multiplier (GSM) in a Dynamic …

We report estimates of the fiscal multiplier for interwar Britain based on quarterly data, time-series econometrics …, and ‘defense news’. We find that the government expenditure multiplier was in the range 0.5 to 0.8, much lower than … future defense spending and does not imply that the multiplier effect of temporary public works programs would have been …

of financial time series. The multiplier distribution is found to be independent of the box size s when s is larger than … with base a=2 are well approximated by a normal distribution and the most probable multiplier scales as a power law with …

central role in this construction is played by the concept of multiplier. The scope of this paper is to define the notion of …