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This paper studies the effects of fiscal policy on GDP, prices and interest rates in 5 OECD countries, using a structural Vector Autoregression approach. Its mains results can be summarized as follows; 1) The effects of fiscal policy on GDP and its components have become substantially weaker in...
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This paper studies the effects of fiscal policy on GDP, inflation and interest rates in 5 OECD countries, using a … plausible values of its price elasticity, government spending typically has small effects on inflation. 6) Both the decline in …
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