multiplier is 1.5 in the ZLB period, and 0.6 outside of it. We argue that these results are not driven by the amount of slack in …

propose a simple method — dubbed the “bucket approach” — to come up with reasonable multiplier estimates. The approach bunches … countries into groups (or “buckets”) with similar multiplier values, based on their characteristics. It also takes into account …

credit multiplier that compares how asame firm responds to permanent shocks differently when these shocks are initiated in …

This paper revisits the size of the fiscal multiplier. The experiment is a fiscal expansion under the assumption of a … periods, the fiscal multiplier can be unboundedly large. However, if the monetary-fiscal expansion is for fixed T periods, the … multiplier is much smaller. Our explanation rests on a Jensen's inequality-type argument: the deterministic multiplier is convex …

This paper shows that the fiscal multiplier for purchases of durable and investment goods is very small - much smaller … than the multiplier for nondurable goods. Standard models predict small durables multipliers because private sector …