Galí, Jordi - In: CESifo economic studies : CESifo, a joint initiative of … 51 (2005) 4, pp. 587-599
The present paper describes recent research on two central themes of Keynes' General Theory: (i) the social waste associated with recessions, and (ii) the effectiveness of fiscal policy as a stabilization tool. The paper also discusses some evidence on the extent to which fiscal policy has been...
