Financial Crisis, Fiscal Policy, and the 1995 GDP Contraction in Mexico
研究1995年墨西哥GDP大幅收缩的原因，提出财政政策变化（增税减支）可部分解释该收缩，并量化其贡献为20.7%。
In 1995 Mexico experienced its largest contraction of gross domestic product (GDP) since the early twentieth century. I propose a simple mechanism to partially account for the contraction: the effects of changes in fiscal policy. The contraction of GDP was preceded by a financial crisis. The government responded by raising taxes and reducing spending. Using a model with taxation and government consumption, and the business cycle accounting methodology, I measure the impact of fiscal policy. Fiscal policy accounts for 20.7% of the fall in output.