Working Paper
What Do We Know about the Macroeconomic Effects of Fiscal Policy? A Brief Survey of the Literature on Fiscal Multipliers
Efrem Castelnuovo, Guay C. Lim
CESifo, Munich, 2018
CESifo Working Paper No. 7366
CESifo, Munich, 2018
CESifo Working Paper No. 7366
![](https://cesifo.org/DocImg/cesifo1_wp7366.jpg?c=1689236996)
This article reviews recent research findings on the effects of fiscal multipliers in normal times, during booms/busts, and in the presence of the zero lower bound. Studies on the effects of fiscal policy in open economy settings as well as contributions on the fiscal-monetary policy mix are also considered. We conclude by outlining a few research avenues that are particularly relevant from a policy standpoint.
CESifo Category
Fiscal Policy, Macroeconomics and Growth
Monetary Policy and International Finance
Fiscal Policy, Macroeconomics and Growth
Monetary Policy and International Finance
JEL Classification: E300