They assess the empirical and theoretical basis for expansionary fiscal contraction, drawing clear parallels ... political scientists, historians and policy makers. 'The arduous process of economic ...

ByGiancarlo CorsettiandGernot Mueller Sizeable resort to fiscal policy seems justified because ... confidence effects that can undermine the expansionary impact of the fiscal intervention.

given all of the above, more likely the expansionary fiscal policy will end up being contractionary in terms of output. This will exacerbate the crises, especially given the “initial conditions ...