This paper analyses the short-run effects of fiscal consolidation measures on economic activity in the euro area during the euro crisis. It presents new econometric estimates on the link between cumulative GDP growth and fiscal austerity measures during 2011-2013. The main empirical finding is...

"Of all economic recessions experienced by the United States in the postwar period, the Great Recession that began in 2008 was the deepest, longest, and most destructive. Nevada was among the hardest hit states, its people reeling from the aftereffects, and the state government also experiencing...

We take the neoclassical perspective and apply the business cycle accounting method as proposed by Chari, Kehoe, and McGrattan (2007, Econometrica) for the Great Recession and the associated stimulus program in Germany 2008-2009. We include wedges to the variables government consumption,...

We estimate the impact of fiscal stimulus measures enacted in response to COVID-19 on U.S. GDP, investment and exports. We apply a dynamic computable general equilibrium model adept at estimating total direct and indirect effects and their time-path. Initial stimulus bills, including the CARES...

Facing a highly uncertain and potentially sluggish recovery in a presidential election year, the president has pressed for increased infrastructure spending to boost the economy. If he continues to promote this idea, members of Congress may go along with this policy as a potential way to speed...