Multilateral Economic Cooperation and the International Transmission of Fiscal Policy
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Paper prepared for the conference “Globalization in an Age of Crisis: Multilateral Economic Cooperation in the Twenty-First Century” organized by the NBER and the Bank of England. We thank Alan Taylor and our discussants Martin Feldstein and Domenico Siniscalco, as well as the participants at the conference, the pre-conference at the NBER, and seminars at the ECB and University of Paris 2 for very helpful comments. Patrick Hürtgen and Yu Jasmine Xiao provided excellent research assistance. The usual disclaimer applies. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.