American Economic Review Vol. 99 No. 2 2009
Rethinking the Role of Fiscal Policy
Abstract
As recently as two years ago there was a widespread consensus among economists that fiscal policy is not useful as a countercyclical instrument. Now governments in Washington and around the world are developing massive fiscal stimulus packages, supported by a wide range of economists in universities, governments, and businesses. Why has this change occurred? What are the principles for designing a potentially useful fiscal stimulus? And what will happen if the current fiscal stimulus fails?
- DOI
- 10.1257/aer.99.2.556
- Volume
- 99
- Issue
- 2
- Pages
- 556-559
- Language
- en
- Sources
- bibtex:phds-export.bib openalex crossref