Still, I think these implications of fiscal policy measures are qualitatively correct--they are a standard result in many models, including the simplest textbook IS-LM model. Stimulative fiscal policies such as these could be beneficial if the economy confronted a recession. Of course, it would be important to ensure that any fiscal policy changes during a recession did not compromise long-run fiscal sustainability.
Government policies that boost the economy’s long-run growth rate would be an even better means of raising the equilibrium interest rate. This is a point I have also made in the past. 14 While there is disagreement about what the most effective policies  13 14  See, for example, Kocherlakota (2015, 2016) and Summers (2016). For instance, in Fischer, 2016.