Vassar College Digital Library

Vassar Scholarship

Vassar Scholarship, the institutional repository formerly known as Digital Window, reflects the research and scholarly output of the Vassar College community.  It provides access to a variety of collections, including senior theses and projects across a wide range of disciplines.

Fiscal Multipliers in a Financially Globalized World

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This paper establishes a relationship between levels of dollariza- tion and the effectiveness of fiscal stimulus. We show that low dollarized economies experience an appreciation of currency from an increase in fiscal stimulus this causes a positive wealth effect leading...