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What Do We Know about Fiscal Multipliers?
P. 443–482.
Favero C., Karamysheva M.
Editor of translation: Ľ. Ódor
The Empirical evidence on fiscal multipliers is very heterogenous. In this paper we first survey available estimates of fiscal multipliers to try to understand their heterogeneity. We provide a general framework that allows to make the identification and specification choices made by the different authors explict and leads hopefully to a better understanding of the heterogeneity of results.