Revisiting Fiscal Multipliers

Traffic Jams and Multipliers, Uneasy Money, 12 Dec 2014
“In the disequilibrium environment of a recession, it is at least possible that injecting additional spending into the economy could produce effects that a similar injection of spending, under “normal” macro conditions, would not produce, just as somehow withdrawing a few cars from a congested road could increase the average speed of all the remaining cars on the road, by a much greater amount than would withdrawing a few cars from an uncongested road. In other words, microresponses may be sensitive to macroconditions.”

Helicopter Money Redux

Differences between printing presses, helicopter money, monetary financing, QE, etc…Helicopter money, Mainly Macro, 22 Oct 2014
The helicopter can drop money, gather bonds or just fly away, FT Alphaville, 12 Dec 2013
Helicopter money as a policy option, VoxEU, 20 May 2013
Helicopter money, VoxEU, 24 Feb 2013
Helicopter money, inflation targets and quantitative easing, Mainly Macro, 14 Jun 2012
Helicopter money: irredeemable fiat money and the liquidity trap, Willem Buiter, NBER WP 10163, Dec 2003

Also see this related post

Dangerous Debt

The role of debt and deleveraging in the financial crisis…
House of Debt, Atif Mian and Amir Suif, May 2014
The opposite of insurance, The Economist, 17 May 2014
Lending weight, The Economist, 14 Sep 2013
Additional background can be found in…
Debt and Macroeconomic Stability, OECD Policy Note, 16 Jan 2013
The real effects of debt, BIS Working Paper No 352, Sep 2011