-called r-g. Whether the fiscal shock occurs when r-g is positive or negativematters for the size of the multiplier. Median … multiplier is inversely correlated with r-g. The calculationsare based on the estimates of a factor-augmented interacted panel …

fiscal multiplier is adversely affected by the amount of public debt. A regression model on a panel of 26 EU countries over …

mechanism in the Eurozone. Our baseline estimates reveal a government spending relative output multiplier of 2.9, an employment … multiplier of 1.9, and a cost per job created of €24,000. Moreover, we find that a regional scal stimulus leads to a signi cant … multipliers are larger in economic recessions, during fiscal consolidations, and in the core countries of the Eurozone. …

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