This paper analyzes the macroeconomic impact of China's 2009-2010 fiscal stimulus package by simulating a dynamic … general equilibrium multi-country model of the world economy, showing that the effects on China's economic activity are … sizeable: absent fiscal stimulus China's GDP would be 2. 6 and 0. 6 percentage points lower in 2009 and 2010, respectively. The …

In response to the record-breaking COVID19 recession, many governments have adopted unprecedented fiscal stimuli. While … spending, we document that the effects of government spending were stronger during the peak of the pandemic recession, but only …

In response to the record-breaking COVID19 recession, many governments have adopted unprecedented fiscal stimuli. While … spending, we document that the effects of government spending were stronger during the peak of the pandemic recession, but only …

The Great Recession and the Global Financial Crisis have left many developed countries with low interest rates and high … levels of public debt, thus limiting the ability of policymakers to fight the next recession. Whether new fiscal stimulus …

modestly negative long-run multipliers around -0.42. The multiplier is sensitive to the fraction of transfers given to credit …