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In this paper, I examine the effects of a countercyclical fiscal policy that gave firms additional tax refunds -- additional liquidity -- at the end of the past two recessions. I take advantage of a discontinuity in the slope of the tax refund formula to estimate the policy's impact. I find that...
Persistent link: https://www.econbiz.de/10011499759
In response to the record-breaking COVID19 recession, many governments have adopted unprecedented fiscal stimuli. While countercyclical fiscal policy is effective in fighting conventional recessions, little is known about the effectiveness of fiscal policy in the current environment with...
Persistent link: https://www.econbiz.de/10012705410
In this paper, I examine the effects of a countercyclical fiscal policy that gave firms additional tax refunds -- additional liquidity -- at the end of the past two recessions. I take advantage of a discontinuity in the slope of the tax refund formula to estimate the policy's impact. I find that...
Persistent link: https://www.econbiz.de/10013210372
Persistent link: https://www.econbiz.de/10011401336
this paper, we explore the concept of the income multiplier in a multi-regional input-output setting, in the context of the … Greek recession, showing empirical evidence for the increasing magnitude of the multiplier during the recession period. The …
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