Fiscal Multipliers, Oil Revenues and Balance Sheet Effects

Borradores de Economia
Number: 
976
Published: 
Classification JEL: 
D91, E21, E62
Keywords: 
Human capital agglomeration, Social returns, Private returns, Externalities, Uncertainty, Fiscal policy
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Fiscal multipliers are different across countries and according with economic circumstances. The studies about the effect of a government spending shock on output have focus their attention on the behavior of consumption. However, the crowding out of inve