01699cas a2200253 a 4500 AALejournalIMF013268 230101c9999 xx r poo 0 0eng d 5.00 USD 9781475576443 1018-5941 BD-DhAAL BD-DhAAL Blanchard, Olivier. Growth Forecast Errors and Fiscal Multipliers / Olivier Blanchard, Daniel Leigh. Washington, D.C. : International Monetary Fund, 2013. 1 online resource (43 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper investigates the relation between growth forecast errors and planned fiscal consolidation during the crisis. We find that, in advanced economies, stronger planned fiscal consolidation has been associated with lower growth than expected, with the relation being particularly strong, both statistically and economically, early in the crisis. A natural interpretation is that fiscal multipliers were substantially higher than implicitly assumed by forecasters. The weaker relation in more recent years may reflect in part learning by forecasters and in part smaller multipliers than in the early years of the crisis. Mode of access: Internet Leigh, Daniel. IMF Working Papers; Working Paper ; No. 2013/001 Full text available on IMF http://elibrary.imf.org/view/journals/001/2013/001/001.2013.issue-001-en.xml IMF e-Library