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In this paper, I examine the effects of a countercyclical fiscal policy that gave firms additional tax refunds -- additional liquidity -- at the end of the past two recessions. I take advantage of a discontinuity in the slope of the tax refund formula to estimate the policy's impact. I find that...
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this paper, we explore the concept of the income multiplier in a multi-regional input-output setting, in the context of the … Greek recession, showing empirical evidence for the increasing magnitude of the multiplier during the recession period. The …
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