• Fiscal Stimulus and Labor Market Flexibility 

      Topal, Pinar (2015-03-03)
      This paper investigates whether a fiscal stimulus implies a different impact for flexible and rigid labour markets. The analysis is done for 11 advanced OECD economies. Using quarterly data from 1999 to 2013, I estimate a ...
    • Revisiting the Narrative Approach of Estimating Tax Multipliers 

      Hebous, Shafik; Zimmermann, Tom (2015-03-01)
      "A number of recent studies regress a ""narratively"" identified measure of a macroeconomic shock directly on an outcome variable. In this note, we argue that this approach can be viewed as the reduced-form regression of ...