The fiscal year-end is the last day of an entity's 12-month accounting period. The fiscal year may differ from the calendar year, which ends Dec. 31, and usually concludes at the end of a month.

Example of the Fiscal Multiplier Let's say that a national government enacts a $1 billion fiscal stimulus and that its consumers' MPC is 0.75. Consumers who receive the initial $1 billion will ...

Since the Global Financial Crisis, fiscal policy in advanced economies has become more “active” – that is, increasingly unresponsive to rising debt levels. This paper explores tensions between active ...

The heightened volatility of commodity prices in recent years, reflecting the effects of the pandemic and the war in Ukraine, begs the longstanding question of the optimal fiscal policy response to ...