Timmy elsewhere

At the ASI.

If the fiscal multiplier doesn\’t multiply, then Keynesianism doesn\’t work, does it? And empirical work seems to suggest that in an open economy with a floating exchange rate that the fiscal mutliplier is around zero.

Hmm….

2 thoughts on “Timmy elsewhere”

  1. Ouch! A multiplier of unity would be bad enough, since doing something for no net benefit is a bit pointless; but a multiplier of ‘essentially zero’ is a killer. It’s worse than useless.

  2. Sadly, I am unable to read your article, as your link keeps closing down my web-browser…. Any idea what’s happening?

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