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|z 9781498336192
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|a 1018-5941
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|a Dell'Erba, Salvatore.
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|a Medium-Term Fiscal Multipliers during Protracted Recessions /
|c Salvatore Dell'Erba, Marcos Poplawski Ribeiro, Ksenia Koloskova.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2014.
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|a 1 online resource (42 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a The paper examines the consequences of fiscal consolidation in times of persistently low growth and high unemployment by estimating medium-term fiscal multipliers during protracted recessions (PR) in a sample of 17 OECD countries. Based on Jorda's (2005) local projection methodology, we find that cumulative fiscal multipliers related to output, employment and unemployment at five-year horizons are significantly above one during PR episodes. These results suggest that medium-term fiscal consolidation plans to reduce public debt burdens should proceed gradually if economic activity remains below trend for a prolonged period.
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|a Mode of access: Internet
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|a Koloskova, Ksenia.
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|a Poplawski Ribeiro, Marcos.
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|a IMF Working Papers; Working Paper ;
|v No. 2014/213
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2014/213/001.2014.issue-213-en.xml
|z IMF e-Library
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