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The tests carried out by Blanchard and Leigh (2013; IMF, 2012) and Fátas and Summers (2018) are extended here into a panel framework in order to assess the empirical basis of the so-called IMF "mea culpa" regarding the underestimation of Keynesian multipliers during the euro area crisis. The...
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intellectual/technical advancement and focus instead on the sharing of ideas. We introduce what we have termed the “Idea Multiplier …” and the “Idea Diffusion” metrics, time series of academic paper citations within and across industries (Idea Multiplier …
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investment multiplier is likely to be much higher than what has been assumed by the policy makers and much higher that the … consumption multiplier. This points out that the consolidation should be accompanied by increased public investment …
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