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Post-stimulus Spending Trends in Canada

出版	Canadian Electronic Library., 2014
URL	http://books.google.com.hk/books?id=FwV7oAEACAAJ&hl=&source=gbs_api

註釋Output in Canada start- Instead, this paper focuses on government ed to decline in the third quarter of 2008 and spending trends post-stimulus, and the ex- reached a low point in the second quarter of tent to which temporary increases have be- 2009. [...] The govern- and new programs in their own priority areas.1 ments were clear that the fiscal stimulus would The Ontario government, for instance, provided be withdrawn and program spending would be direct subsidies to pulp and paper mills, farm- brought under control and returned to pre- ers, and the auto sector. [...] His work was premised on the as- tual (and projected) program spending and the sumption that deficit-financed spending would amount these governments would have spent if have a multiplier effect represented by the ratio they had grown expenditures according to the of the increase in real output to the increase in pre-recessionary trend. [...] Put differently: government spending could the level of spending prior to stimulus and in- help to stimulate investment and employment, creasing it by the rate of population growth and and in turn have a net positive effect on eco- the rate of inflation to maintain constant real nomic output. [...] Thus, our calculations for The empirical foundation of Keynes's multipli- the amount of the deficit that could have been er effect remains a point of contention among avoided are based on the amount by which the economists and in any case is outside the scope blue exceed the red lines in the post-stimulus of this paper.