Economics, Econometrics and Finance
4 years ago

US Fiscal Policies Fail to Stabilize Economy Post-Great Recession

RePEc: Research Papers in Economics
Great Recession, Slow Recovery and Muted Fiscal Policies in the US
Alice Albonico, Alessia Paccagnini, Patrizio Tirelli

Paper Summary

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The Great Recession in the US was caused by a big drop in demand and interest rates hitting zero. The slow recovery after was due to the zero interest rate effect. About half of households didn't adjust their spending during this time. Fiscal policies didn't do much to help the economy during this period, even though government spending went up.