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Article Dans Une Revue Review of Radical Political Economics Année : 2018

Why Are Keynesian Multipliers Larger in Hard Times? A Palley-Aftalion-Pasinetti Explanation

Résumé

We use the AMECO database to confirm that textbook multipliers are nearly always greater than one and that they increase during recessions. Propensity to import falls in recessions through the combined effects of the amplified fall in investment (Aftalion) and the high import content of investment (Palley). A change in saving behavior (Pasinetti) may also raise the multiplier. These findings strongly support the need for countercyclical fiscal policies during recessions.
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hal-01785867 , version 1 (28-03-2023)

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Sébastien Charles, Thomas Dallery, Jonathan Marie. Why Are Keynesian Multipliers Larger in Hard Times? A Palley-Aftalion-Pasinetti Explanation. Review of Radical Political Economics, 2018, 50 (4), pp.736-756. ⟨10.1177/0486613417722527⟩. ⟨hal-01785867⟩
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