inflation from its trend, implying that the more demand-driven a recession, the higher the multiplier. Median multipliers range …

inflation from its trend, implying that the more demand-driven a recession, the higher the multiplier. Median multipliers range …

closely related to the harshness of fiscal austerity. Cumulative multiplier estimates are found to vary in a range from 1.4 to … 2.1, depending on the data source used to identify the intensity of fiscal consolidation. Given these multiplier values …

recession. We estimate, for the Eurozone countries, expenditure multipliers in recession and expansion using the linear …

Since the start of EMU national fiscal policy in the Eurozone can be conducted almost without paying any attention to … the fiscal balance - a result backing an optimistic view on fiscal discipline under EMU. On the other hand, however, there … is the result that a high degree of openness has a deficit reducing impact. This is a worrying result in the EMU context …