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  • Eric M. Leeper, Alexander W. Richter, and Todd B. Walker, Fiscal Policy (Trans-Atlantic Public Economics Seminar, TAPES) (American Economic Journal: Economic Policy 4 (2), 2010), chap. 6, https://www.nber.org/books-and-chapters/fiscal-policy-trans-atlantic-public-economics-seminar-tapes/quantitative-effects-fiscal-foresight.

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Changes in fiscal policy typically entail two kinds of lags: the legislative lag--between when legislation is proposed...

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