Papers by Enrico Gabriele
RePEc: Research Papers in Economics, Aug 1, 2017
This paper starts from Keynes' General Theory to demonstrate the existence of a non-linear Keynes... more This paper starts from Keynes' General Theory to demonstrate the existence of a non-linear Keynesian multiplier on the grounds of crosscountry data. Thus, we prove the effectiveness of short-run countercyclical exogenous stimuli during downturns. The role of fiscal spending is discussed in light of different schools of thought, including the well-known "expansionary fiscal contraction" theory. Moreover, we examine the European fiscal rules of convergenceaimed to sovereign debt sustainabilitythat affect the size of "fiscal space". Empirical data from several Eurozone countries provide evidence of traditional multipliers. Furthermore, the Greek economy displays a non-linear case of multiplier. This leads to rejecting the assumption of a weak Keynesian setting, which supported instead the IMF-backed fiscal contraction.
Italian economic journal, Nov 21, 2022
This paper starts from Keynes’ General Theory to demonstrate the existence of a non-linear Keynes... more This paper starts from Keynes’ General Theory to demonstrate the existence of a non-linear Keynesian multiplier on the grounds of cross-country data. Thus, we prove the effectiveness of short-run countercyclical exogenous stimuli during downturns. The role of fiscal spending is discussed in light of different schools of thought, including the well-known “expansionary fiscal contraction” theory. Moreover, we examine the European fiscal rules of convergence – aimed to sovereign debt sustainability – that affect the size of “fiscal space”. Empirical data from several Eurozone countries provide evidence of traditional multipliers. Furthermore, the Greek economy displays a non-linear case of multiplier. This leads to rejecting the assumption of a weak Keynesian setting, which supported instead the IMF-backed fiscal contraction.
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Papers by Enrico Gabriele