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multipliers for the United States. With these results, it computes the cumulative multiplier of Ramey and Zubairy (2018), now … common in the literature. It finds that, contrary to the peak and through multipliers reported by BP, the cumulative tax … results suggest that the fiscal multipliers vary significantly across countries, and in some cases multipliers are larger than …
Persistent link: https://www.econbiz.de/10012170143
By applying a Structural Vector Autoregressive (SVAR) approach this paper estimates the effects of fiscal policy shocks of different government sub-sectors on aggregate GDP in Germany. From a general government perspective, the results show that besides investment, it is particularly changes in...
Persistent link: https://www.econbiz.de/10011897960
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This paper provides a summary of trends in government spending. It reveals strong growth in government spending and the size of government, particularly over the past four years. It also discusses the distribution and sustainability of spending and notes the importance of high quality spending...
Persistent link: https://www.econbiz.de/10010784709
would have occurred had GDP never deviated from its trend. Hence, past business cycles affect the cyclical part of the … cycles : according to our method, structural balances consolidated by more in 1990-1991 and deteriorated by more in 1994-1995. …
Persistent link: https://www.econbiz.de/10009001123
Blanchard and Leigh (2013, 2014) find fiscal multipliers to be underestimated in the EU in the deep recession of the …
Persistent link: https://www.econbiz.de/10012307864
Persistent link: https://www.econbiz.de/10012237233
Persistent link: https://www.econbiz.de/10015047995
Persistent link: https://www.econbiz.de/10009374197
In this note we elaborate on the effect of the modeling choice of the zero lower bound on the size of the fiscal multiplier. To this end we contrast two different ways to implement the ZLB in a New Keynesian model: the ZLB modeled as an endogenous central bank reaction to a contractionary demand...
Persistent link: https://www.econbiz.de/10009772911