Fiscal Policy Multipliers at the End of the Great Depression

The smart, keen-eyed, and incredibly fast-reading Ryan Avent directs us to Robert Gordon and Robert Krenn:

Fiscal policy: War on depression: ROBERT GORDON and Robert Krenn have produced some interesting new assessments of the fiscal impact of America's military build-up from 1939 to 1941. Here's their abstract:

This paper is about the size of fiscal multipliers and the sources of recovery from the Great Depression. Its baseline result is that 89.1 percent of the...