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We show that fiscal multiplier estimations may be biased by movements in asset and credit markets, as they facilitate …
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We show that fiscal multiplier estimations may be biased by movements in asset and credit markets, as they facilitate …
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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 … 2.1, depending on the data source used to identify the intensity of fiscal consolidation. Given these multiplier values …
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