Aggregate fiscal variable G in IS-LM-BP is sufficient only under the restrictive condition that all instruments have identical marginal effects on output, otherwise composition-weighted multipliers are required.
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Fiscal Aggregation and the Limits of IS--LM--BP: Derivations, Aggregation Bias and Reproducible Adversarial Simulations
Aggregate fiscal variable G in IS-LM-BP is sufficient only under the restrictive condition that all instruments have identical marginal effects on output, otherwise composition-weighted multipliers are required.