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The Effectiveness Of Fiscal Policy In Combating Economic Crisis. An Analysis Based On The Economic Literature

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Executive Summary

The objective of this paper is to identify, in the economic literature, the main factors which constrain the transmission of the fiscal shocks to the real economy. The interest in finding the most efficient fiscal stimuli in recovery the economies passing through crisis period has got increased as soon as the expansionary monetary policy promoted by most of the central banks has not generated an increase of the confidence in the private economic agents and, as a consequence, an increase of consumption and of the private investments.

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