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closely related to the harshness of fiscal austerity. Cumulative multiplier estimates are found to vary in a range from 1.4 to … the euro crisis. It presents new econometric estimates on the link between cumulative GDP growth and fiscal austerity … 2.1, depending on the data source used to identify the intensity of fiscal consolidation. Given these multiplier values …
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ordering these consolidation strategies by multiplier size or their welfare consequences leads to very different rankings. With …
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