The OECD just published its November 2016 Global Economic Outlook . Their projections suggest an acceleration of global growth rates in particular in countries with plans for a fiscal expansion. In the case of the US, and based on the "plans" of the Trump administration, the OECD projects an acceleration of GDP growth to 3% in 2018. I am very glad to see that the OECD is more open to the idea that a fiscal expansion might be the right policy choice in a low growth environment. I am also very happy that they are ready to admit that fiscal policy multipliers are larger than what they previously thought. But I am puzzled that they seem to ignore their previous disastrous economic policy advice. And I am even more puzzled that they are upgrading their estimates of fiscal policy multipliers (in particular for tax cuts) at the wrong time in the business cycle, when the economy must be closer to full employment. Here is the history: back in 2011 many advanced economies switched to ...