properties of the pre-test estimators introduced in Florax et al. (2003), which are based on Lagrange Multiplier (LM) tests …

consistent; (4) there is a valid link with the Keynesian multiplier; (5) the output preservation requirement is satisfied by de … Mesnard's 'iterative net multiplier'. The paper concludes by agreeing to Oosterhaven's suggestion that NM is not suitable to … examine causalities between endogenous and exogenous variables and that the wording 'multiplier' is very bad and confusing for …

Most of the comment of de Mesnard applies to a causal interpretation of the net multiplier that is applied to … further argumentation is based on a time inconsistent derivation of the Leontief output multiplier. Instead the net multiplier … and therefore it is not a proper net multiplier. Instead it equals an old gross multiplier, namely the one that indicates …

-specific with the value of the marginal export-base multiplier varying within very wide limits, depending upon key characteristics …