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The fiscal multiplier in the IMF programs
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Resumo(s)
The accumulation of capital flows in the European periphery
experienced, starting from the early ‘00s, was first considered a
natural effect of the convergence towards higher output levels.
However, after the crisis of 2007-2008, it was clear the risky
nature of the accumulation. Soon, Greece, Portugal and Ireland
required the intervention of the IMF. In this paper, we will first
present the crisis background. We will then focus on the role of
the fiscal multiplier in implementing the IMF programs, and we
will conclude with an evaluation of the accuracy of the forecasts.
Descrição
Palavras-chave
Imf Fiscal multiplier Forecasts Debt Gdp