Question: This question is based on the article, Fiscal Multiplier at the Zero Bound: Evidence from Japan, by Ethan Goode, Zheng Liu, and Thuy Lan Nguyen,

This question is based on the article, "Fiscal Multiplier at the Zero Bound: Evidence from Japan," by Ethan Goode, Zheng Liu, and Thuy Lan Nguyen, published on May 24, 2021, by the Federal Reserve Bank of San Francisco as part of its Economic Letters series. https://www.frbsf.org/economic-research/publications/economic-letter/2021/may/fiscal-multiplier-at-zero-bound-evidence-from-japan/

What is the range of multipliers that the article finds for normal vs. ZLB situations? How and in what ranges does the multiplier vary during recessions vs. expansions when the ZLB binds? Does the evidence presented in the article corroborate the claim that the multiplier is higher under ZLB conditions if there is a recession?

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