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Keywords:macroeconomic impacts 

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

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.
FRBSF Economic Letter , Volume 2020 , Issue 13 , Pages 5

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