https://eml.berkeley.edu/~cromer/Lectures/Written%20Version%20of%20Effects%20of%20Fiscal%20Policy.pdf

Hall extrapolates the trend of purchases from 1999-2007 and compares this trend to actual purchases after O Hall analyzes different state responses of spending during the Great Recession in a cross-sectional study to find states with particular big swings in spending. He then compares this to changes at the federal level. O Hall starts to calculate changes only coming from the stimulus bill in early 2009. QUESTION 5 According to Romer (2011) the fact that consumption did not change despite a large temporary increase of disposable income in 2008 provides strong evidence for a low fiscal multiplier in 2008. O True O False QUESTION 6 Romer (2011) cites her own research as evidence that for most countries fiscal austerity (cuts in government spending) measures can lift growth even in the short run. O True O False QUESTION 7 LLC since 2008 likely im