This question is based on the article, “The COVID-19 Fiscal
Multiplier: Lessons from the Great Recession,” by Daniel J. Wilson,
published on May 26, 2020, by the Federal Reserve Bank of San
Francisco as part of its Economic Letters series. The article tries
to assess the potential economic impact of the fiscal response to
the COVID-19 pandemic. It draws parallels between the fiscal
responses to the current downturn and to the Great Recession of
2008-2009 to estimate the potential range...