2014-02-23

Keynesian Economics Bleg

Scott Sumner's latest at EconLog got me thinking. I understand that the multiplier is a useful theoretical item in the Keynesian toolkit, but as far as I am aware, the empirical evidence for the multiplier is basically nil. I've read many articles making the case for the non-existence of the Keynesian multiplier, and I have read a few conservative articles claiming that the multiplier is between 0 and 1.

But I have never read any really good paper claiming that the Keynesian multiplier is greater than 1. Can anyone point me to the most compelling evidence?