Government Spending Multiplier

Robert Barro has been one of those who have been trying to argue the futility of any fiscal stimulus. His argument has been more empirical than theoretical. He first talked about it in his popular article in the Wall Street Journal. Recently, his estimations have become available through his NBER working paper coauthored with Charles Redlick.

For another quip at the empirics of government spending, refer to this interesting graph popularized by John Taylor.

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