Brancaccio, Emiliano; De Cristofaro, Fabiana - In: PSL quarterly review 73 (2020) 294, pp. 225-239
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...