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Much of the research on the impact of fiscal policy shocks on macroeconomic outcomes (e.g., fiscal multipliers) uses reduced-form modelling approaches such as vector auto-regressions to obtain empirical results. In a recent study1, we used this approach to estimate fiscal multipliers for South...
Despite the frequent use of fiscal policy for stabilization purposes, there remains significant uncertainty regarding the impact of fiscal policy decisions on macroeconomic outcomes. This impact is quantified by calculating fiscal multipliers. A fiscal multiplier measures the impact of government’s...
Policy Brief
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– Unravelling the Impact of Foreign Aid
When, why and how has foreign aid facilitated, or hindered, democracy in recipient countries? Focusing on sub-Saharan Africa, this policy brief examines the impact of foreign aid on supporting transitions from one-party to multiparty regimes, preventing democratic breakdown and the erosion of civil...
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