The Return of Expansionary Austerity : Firms' Investment Response to Fiscal Adjustments in Emerging Markets /
We study the response of corporate investment in Emerging Markets to unexpected fiscal shocks. We find that, although firm-level investment decreases on impact following unexpected public expenditure adjustments (classical Keynesian multiplier effect), it quickly rises above pre-shock levels. The re...
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| Natura: | Periodico |
| Lingua: | English |
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Washington, D.C. :
International Monetary Fund,
2022.
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| Serie: | IMF Working Papers; Working Paper
;No. 2022/070 |
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| Accesso online: | Full text available on IMF |