The Effectiveness of Fiscal Policy in Stimulating Economic Activity : A Review of the Literature

This paper reviews the theoretical and empirical literature on the effectiveness of fiscal policy. The focus is on the size of fiscal multipliers, and on the possibility that multipliers can turn negative (i.e., that fiscal contractions can be expansionary). The paper concludes that fiscal multipliers are overwhelmingly positive but small. However, there is some evidence of negative fiscal multipliers.
Publication date: December 2002
ISBN: 9781451874716
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Topics covered in this book

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Economics- Macroeconomics , Economics- Macroeconomics , Public Finance , Public Finance , economic activity , fiscal multipliers , government spending , expansionary fiscal contractions , expenditure , fiscal contraction , Fiscal Policies and Behavior of Economic Agents: General

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