Is Freshwater Skepticism on Fiscal Multipliers Rooted in Theory?

Autor:	Tony Myatt, Brian MacLean
Rok vydání:	2014
Předmět:	Macroeconomics Government spending Economics and Econometrics Sociology and Political Science media_common.quotation_subject Keynesian economics Fiscal multiplier Zero (linguistics) Fiscal policy Austerity Political Science and International Relations Economics Mainstream Empirical evidence Skepticism media_common
Zdroj:	International Journal of Political Economy. 43:94-107
ISSN:	1558-0970 0891-1916
DOI:	10.1080/08911916.2014.1001701
Popis:	Since the 2008 financial meltdown, opposing camps of mainstream macroeconomists have debated fiscal policy measures, and have expressed opposing views on the size of the fiscal multipliers—about which there is an abundance of empirical evidence. However, empirical evidence has not been enough to resolve these debates about multipliers: the “freshwater” macroeconomists have continued to express skepticism about claims of their “saltwater” counterparts that government spending multipliers should be large and positive. This paper makes the possibly surprising claim that the fiscal multiplier skepticism of “freshwater” macroeconomists is not rooted in specific macroeconomic modeling assumptions. Freshwater macroeconomists certainly have tastes for a particular set of modeling assumptions, but these assumptions are insufficient to guarantee that multipliers will be zero, let alone negative.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::547898887675af09d7b12e5acb3966ba https://doi.org/10.1080/08911916.2014.1001701 Zobrazit plný text záznamu Plný text ve formátu PDF Plný text ve formátu HTML
Nepřihlášeným uživatelům se plný text nezobrazuje	K zobrazení výsledku je třeba se přihlásit.