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Replication data for: Ten Years after the Financial Crisis: What Have We Learned from the Renaissance in Fiscal Research?

Version
V0
Resource Type
Dataset
Creator
  • Ramey, Valerie A.
Publication Date
2019-01-01
Description
  • Abstract

    This paper takes stock of what we have learned from the "Renaissance" in fiscal research in the ten years since the financial crisis. I first discuss the new innovations in methodology and various strengths and weaknesses of the main approaches to estimating fiscal multipliers. Reviewing the estimates, I come to the surprising conclusion that the bulk of the estimates for average spending and tax change multipliers lie in a fairly narrow range, 0.6 to 1 for spending multipliers and -2 to -3 for tax change multipliers. However, I identify economic circumstances in which multipliers lie outside those ranges. Finally, I review the debate on whether multipliers were higher for the 2009 Obama stimulus spending in the United States or for fiscal consolidations in Europe.
Availability
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Relations
  • Is supplemented by
    DOI: 10.1257/jep.33.2.89 (Text)
Publications
  • Ramey, Valerie A. “Ten Years After the Financial Crisis: What Have We Learned from the Renaissance in Fiscal Research?” Journal of Economic Perspectives 33, no. 2 (May 2019): 89–114. https://doi.org/10.1257/jep.33.2.89.
    • ID: 10.1257/jep.33.2.89 (DOI)

Update Metadata: 2019-10-13 | Issue Number: 1 | Registration Date: 2019-10-13

Ramey, Valerie A. (2019): Replication data for: Ten Years after the Financial Crisis: What Have We Learned from the Renaissance in Fiscal Research?. Version: V0. ICPSR - Interuniversity Consortium for Political and Social Research. Dataset. https://doi.org/10.3886/E114033