Can Government Purchases Stimulate the Economy?
简要回顾了政府支出乘数的研究现状，结合理论、美国总体数据和跨地区估计，评估了临时性赤字融资政府购买乘数的可能范围（0.8-1.5），对理解财政刺激政策效果有参考价值。
This essay briefly reviews the state of knowledge about the government spending multiplier. Drawing on theoretical work, aggregate empirical estimates from the United States, as well as cross-locality estimates, I assess the likely range of multiplier values for the experiment most relevant to the stimulus package debate: a temporary, deficit-financed increase in government purchases. I conclude that the multiplier for this type of spending is probably between 0.8 and 1.5.