This does bugger up some people’s theories:
…the fiscal multiplier is relatively large in economies operating under predetermined exchange rate but zero in economies operating under flexible exchange rates;….
Ooooh, dear
October 29th, 2010 · 2 Comments
Tags: Economics
2 responses so far ↓
1 Dizzy Ringo // Oct 30, 2010 at 11:30 pm
As for QE, Alberto F. Alesina, Silvia Ardagna have said in a paper that, on their estimates, the multiplier is less than 1.
So, is QE worth the candle?
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