Technical Notes and Manuals 14/04 | 2014 27
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Changes in Government Spending and Taxes on Output,” Quarterly Journal of Econom-
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Blanchard, O., and D. Leigh, 2013, “Growth Forecast Errors and Fiscal Multipliers,” American
Economic Review, Vol. 103, No. 3, pp. 117–20.
Born, B. F. Juessen, G.J. Mueller, 2013, “Exchange Rate Regimes and Fiscal Multipliers,” Jour-
nal of Economic Dynamics and Control, Vol. 37, No. 2, pp. 446–65.
Botero, J., S. Djankov, R. Porta, and F. C. Lopez-De-Silanes, 2004, “The Regulation of Labor,”
The Quarterly Journal of Economics, Vol. 119, No. 4, pp.1339–82.
Canzoneri, M., F. Collard, H. Dellas, and B. Diba, 2012, “Fiscal Multipliers in Recessions,”
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Christiano, L., M. Eichenbaum, and S. Rebelo, 2011, “When is the Government Spending-
Multiplier Large?” Journal of Political Economy, Vol. 119, No. 1, pp. 78–121.
Coenen, G., C. J. Erceg, C. Freedman, D. Furceri, M. Kumhof, R. Lalonde, D. Laxton, J.
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Models,” American Economic Journal: Macroeconomics, Vol. 4, No. 1, pp. 22–68.
Cole, H.L., and L.E. Ohanian, 2004, “New Deal Policies and the Persistence of the Great
Depression: A General Equilibrium Analysis,” Journal of Political Economy, Vol. 112, No.
4, pp. 779–816.
Conway, P. and Orr, A., 2002, “The GIRM: A Global Interest Rate Model,” Westpac Institu-
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Corsetti, G., A. Meier, and G.J. Müller, 2012, “What Determines Government Spending Multi-
pliers?” IMF Working Paper 12/150 (Washington: International Monetary Fund).
Cloyne, J., 2013, “Discretionary Tax Changes and the Macroeconomy: New Narrative Evi-
dence from the United Kingdom,” American Economic Review, Vol. 103, No. 4, pp.
1507–28.
DeLong, B.J., and L.H. Summers, 2012, “Fiscal Policy in a Depressed Economy,” presented to
Brookings Papers on Economic Activity, March 2012.
Dolls, M., C. Fuest, and A. Peichl, 2012. “Automatic Stabilizers and Economic Crisis: US vs.
Europe,” Journal of Public Economics, Vol. 96, pp. 279–94.
Ducanes, G., M.A. Cagas, D. Qin, P. Quising, and M.A. Razaque, 2006, “Macroeconomic Ef-
fects of Fiscal Policy: Empirical Evidence from Bangladesh, China, Indonesia, and the
Philippines,” Queen Mary, University of London Working Paper 564 (London: Univer-
sity of London).
Eggertsson, G., 2010, “What Fiscal Policy Is Effective at Zero Interest Rates?” NBER Macroeco-
nomics Annual, Vol. 25, pp. 59–112.
Erceg, C. J., and J. Lindé, 2010, “Is There a Free Lunch in a Liquidity Trap?” International
Finance Discussion Papers 1003 (Washington: U.S. Federal Reserve System).
European Commission, 2010, “Fiscal Policy, Debt Reduction, and Growth after the Crisis,”
chapter III of Public Finances in EMU (Brussels).
Espinoza, R., and A. Senhadji, 2011, “How Strong are Fiscal Multipliers in the GCC? An Em-
pirical Investigation,” IMF Working Paper 11/61 (Washington: International Monetary
Fund).
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