Do countries have more room to use counter-cyclical fiscal policy than they used to?

第一，与过去比较，各国现在实行反周期财政政策的空间是否更大？

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As Willem Buiter of the London School of Economics puts it, only fiscal conservatives can use counter-cyclical fiscal policy well.

伦敦大学的经济学家Willem Buiter指出，只有财政保守人士才可以让反周期波动的财政政策运行良好。

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In any case, if counter-cyclical fiscal policy is to work, speed is crucial.

ECONOMIST: Economics focus: Remember fiscal policy? | The

So Mr Williamson's plan sits best with the view that fiscal policy should also have a strong counter-cyclical role.

ECONOMIST: Off target

The basic policy conclusion of the rational expectations hypothesis is that counter-cyclical monetary and fiscal policies affect real GDP and unemployment only if they are unanticipated.

FORBES: Thomas Sargent, Rational Expectations And The Keynesian Consensus