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The COVID-19 Fiscal Multiplier: Lessons from the Great Recession

Author

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  • Daniel J. Wilson

Abstract

The United States enacted a series of fiscal relief and stimulus bills in recent weeks, centered around the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The current fiscal response shares key similarities to the fiscal stimulus enacted during the Great Recession. Research over the past 10 years on the macroeconomic impact of that stimulus thus has important implications for the current fiscal response. The results point to a large potential impact on GDP.

Suggested Citation

  • Daniel J. Wilson, 2020. "The COVID-19 Fiscal Multiplier: Lessons from the Great Recession," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, vol. 2020(13), pages 1-5, May.
    • Handle: RePEc:fip:fedfel:88052
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    Cited by:

    1. Mr. Tidiane Kinda & Andras Lengyel & Kaustubh Chahande, 2022. "Fiscal Multipliers During Pandemics," IMF Working Papers 2022/149, International Monetary Fund.
    2. Kakade, Ameya & Roongta, Dhruv & Haribalaraman, Shravan, 2020. "A case-study oriented analysis of the demand-side policies to reduce cyclical unemployment in the 2008 financial crisis and their potential effectiveness in a post-COVID US economy," MPRA Paper 103747, University Library of Munich, Germany.

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