The academic literature on fiscal policy in the aftermath of the 2008 crisis: a Keynesian resurgence?

Abstract

After the 2008 global financial crisis, there was discussion about the possibility
of a Keynesian resurgence. Studies on this topic showed that the mainstream view faced
some changes but that they were limited. There has been growing interest in thematic multipliers
and some acceptance of fiscal policy in special circumstances: recession with zero lower
bound. This article presents a bibliometric study comparing the immediate post-crisis period
(2009-2015) to the period in which the crisis became more distant (2016-2022). The
study showed that the second period became even more distant to a Keynesian resurgence.

JEL Classification: B00.