Society, Politics & Law
Economics and the 2008 crisis: a Keynesian view
...statistical methods to estimate its empirical size. There is, however, considerable uncertainty as to the multiplier’s precise value. At the top end of estimates of the size of the multiplier, Eggertsson (2006) finds the multiplier to be as high as 3.8. In a more recent survey, Ramey (2011) pronounces that the ‘range of plausible estimates for the multiplier … is...