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 …

This paper shows that the fiscal multiplier for purchases of durable and investment goods is very small - much smaller … than the multiplier for nondurable goods. Standard models predict small durables multipliers because private sector …

in the previous literature based on U.S. data - we find that the pooled government spending multiplier is small: below 0 ….2. This estimate, however, masks substantial heterogeneity: the debtfinanced spending multiplier is larger and can be well … above 1 if monetary policy is accommodative. The multiplier is especially large in recessions and when the government …