Recessions x Expansions (Riera-Crichton et al.)

Fiscal multipliers in recessions and expansions: does it matter whether government spending is increasing or decreasing? by Daniel Riera-Crichton, Carlos A. Vegh and Guillermo Vuletin published by World Bank (7/2014). “Using non-linear methods, this paper finds that existing estimates of government spending multipliers in expansion and recession may yield biased results by ignoring whether government spending is increasing or decreasing…”

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