Our readingWhat is a korrent?
Drawn from what John H. Cochrane said
fiscal policy The spending-and-taxing half of macro, as against the central-bank half: multipliers, stabilisers, stimulus.
However, a durable fiscal reform might have a multiplier effect: Diagnosing high real interest rates as a premium for possible inflation, default, and devaluation, a durable fiscal reform could bring rates down, which in turn would add 5% of GDP or more fiscal space.
Added to korrents 7 Nov 2026 · How quotes work · Something wrong? Tell us
Do you hold this korrent?Do you also believe this?
I hold this tooShared subject first, then similar wording. They may agree or disagree.