When is the government spending multiplier large?

Lawrence Christiano, Martin Eichenbaum, Sergio Rebelo

NBER Working Paper No. 15394
Issued in October 2009, Revised in December 2011

---- Acknowledgments ----

We thank the editor, Monika Piazzesi, Rob Shimer, and two anonymous referees for their comments. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.

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