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This paper empirically investigates US fiscal policy sustainability and cyclicality in an empirical structure that allows fiscal policy responses to exhibit asymmetric behavior. We investigate this over two quarterly intervals, both of which begin in 1955:1. The short sample ends in 1995:2 and is most similar to the one used by Bohn (Q J Econ 113:949–963, 1998), whereas the full sample ends in 2013:3...
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