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  • Does the multiplier effect exist?

Does the multiplier effect exist?

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Nigel Watson, Head of Economics and Business, St Catherine's School, Bramley, examines the credibility of a long-established concept in macroeconomic policy.

Summary of Key Points

  • Why do Keynesians think that a fiscal multiplier exists?
  • Criticisms of the Keynesians Fiscal Multiplier
  • Problem one: Globalised competition
  • Problem two: Debt does matter!
  • Problem three: Expansionary fiscal policy crowds out private sector investment
  • The size of the multiplier: empirical studies
  • Conclusions

This article first appeared in Economics Today Volume 24 Issue 1 September 2016

Nigel Watson, Head of Economics and Business, St Catherine's School, Bramley, examines the credibility of a long-established concept in macroeconomic policy.

Summary of Key Points

  • Why do Keynesians think that a fiscal multiplier exists?
  • Criticisms of the Keynesians Fiscal Multiplier
  • Problem one: Globalised competition
  • Problem two: Debt does matter!
  • Problem three: Expansionary fiscal policy crowds out private sector investment
  • The size of the multiplier: empirical studies
  • Conclusions

This article first appeared in Economics Today Volume 24 Issue 1 September 2016

Does the multiplier effect exist?

This article first appeared in Economics Today Volume 24 Issue 1 September 2016

download: D152

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