Understanding Policy in the Great Recession: Some Unpleasant Fiscal ArithmeticJohn H. Cochrane
NBER Working Paper No. 16087 ---- Acknowledgments ---- I thank Michael Woodford for helpful comments, and Francisco Vaquez-Grande for the surplus plot. I acknowledge research support from CRSP. The views expressed herein are those of the author and do not necessarily reflect the views of the National Bureau of Economic Research. |

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