Fiscal Multipliers & Hamster Wheels
What is a “fiscal multiplier”? What do they have to do with fiscal stimulus? Do they work? As usual the answer is not a clear cut yes or no. It’s “it depends”.
Markets ≠ The Economy: Fiscal Stimulus
Markets go gaga over fiscal stimulus, always asking, “Is it big enough?” Here’s another perspective: stimulus to households does not work as advertised.
