Using a rich data set on government spending forecasts in Japan, we provide new evidence on the effects of unexpected changes in government spending when the nominal interest rate is near the zero lower bound (ZLB). The on-impact output multiplier is 1.5 in the ZLB period, and 0.6 outside of it....

The paper presents the constrained multiplier methodology in semi-input-output analysis and quantifies the effect of the government support to the industries mostly affected by COVID-19 pandemic in Slovakia. In contrary to traditional input-output analysis, the methodology in this paper allows...

Renewed interest in fiscal policy has increased the use of quantitative models to evaluate policy. Because of modeling uncertainty, it is essential that policy evaluations be robust to alternative assumptions. We find that models currently being used in practice to evaluate fiscal policy...