Fiscal Policy after the Financial Crisis.

• Position: Bureau Books

Fiscal Policy after the Financial Crisis, edited by Alberto Alesina and Francesco Giavazzi, is available now from the University of Chicago Press.

The last recession refocused the attention of policymakers and academic economists on the importance of tax rates and government spending, and especially on the size and sensitivity of fiscal multipliers, which determine how fiscal policies will influence economic growth. This NBER conference volume considers the measurement of various government spending multipliers and reports estimates of their size. It also explores the consequences of debt reduction through decreased government spending and through increased taxes and it examines how the short-term political forces driving fiscal policy might be balanced with aspects of the long-term planning that governs monetary policy.

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