I think the multiplier estimates I’ve seen are usually of the average multiplier, not the marginal multiplier, but what we care about is the marginal impact. See also HStencil’s answer and the discussion that follows, though.
I think the multiplier estimates I’ve seen are usually of the average multiplier, not the marginal multiplier, but what we care about is the marginal impact. See also HStencil’s answer and the discussion that follows, though.