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Institute for Workplace Studies-----------------Professor Samuel B. Bacharach

School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies

Cornell University

16 East 34th Street, 4th floor--------------------Stuart Basefsky

New York, NY 10016 -------------------------------Director, IWS News Bureau

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Congressional Budget Office (CBO)

Working Paper 2015-02

 

THE FISCAL MULTIPLIER AND ECONOMIC POLICY ANALYSIS IN THE UNITED STATES [3 February 2015]

by Charles J. Whalen and Felix Reichling

http://www.cbo.gov/publication/49925?utm_source=feedblitz&utm_medium=FeedBlitzEmail&utm_content=812526&utm_campaign=Hourly_%272015-02-03_15%3a00%3a00%27

or

http://www.cbo.gov/sites/default/files/cbofiles/attachments/49925-FiscalMultiplier.pdf

[full-text, 20 pages]

 

Abstract

The recession from 2007 to 2009 sparked wide interest in the economic effects of fiscal policy.

That interest is reflected in an ongoing debate over the size of the fiscal multiplier. This working

paper addresses three questions: What models do economists use to estimate that multiplier? Why

do estimates of it vary widely? How can economists use those estimates to judiciously analyze

U.S. economic policy?

 

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