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Growth Forecast Errors and Fiscal Multipliers.

This paper investigates the relation between growth forecast errors and planned fiscal consolidation during the crisis. We find that, in advanced economies, stronger planned fiscal consolidation has been associated with lower growth than expected. The relation is particularly strong, both statistica...

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Published in:American Economic Review Vol. 103; no. 3; pp. 117 - 121
Main Authors: Blanchard, Olivier J, Leigh, Daniel
Format: Article
Published: American Economic Association May2013
Subjects:
Financial crises
Mathematical models of economic development
Mathematical models of forecasting
Statistical errors
European Sovereign Debt Crisis, 2009-2018
Austerity
Estimation theory
Online Access:View this record in EBSCOhost