Un altro rapporto debito/PIL è possibile (2)

2 commenti (espandi tutti)

Legga Boldrin, legga. 


"Tax shocks had a slightly smaller impact because the multiplier operated on an increase in demand that was proportional to the marginal propensity to consume."


"Expenditure multipliers are significantly larger than tax multipliers in downturns (up to 10 times larger) but less so during expansions (up to 6 times larger) [...] A tax multiplier bigger than zero but smaller than the spending multiplier seems to conform with the prediction of the traditional Keynesian model."


"Hence, the main implication is that, during recessions, smooth consolidations based primarily on tax measures may deliver a similar, if not better, debt reduction than more aggressive consolidations, while affecting output less adversely. This is even more true when the initial conditions of a consolidation are adverse (the stock of debt is elevated and public debt yields contain a high and/or rising risk premium component)."

Signor Guido,
porti pazienza ma per noi economisti i moltiplicatori non sono mai esistiti. Son fantasie.
Oggetto quasi solo di storia del pensiero, tra l'altro su un allievo di JMK e non lui stesso, che non era affatto cretino come volete farlo passare.