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Jobs Multipliers : Evidence from a Large Fiscal Stimulus in Spain
Alloza, Mario - 2019
We estimate the employment effect of a large fiscal stimulus in Spain (PlanE), in which the national government … the multiplier falls in the lower range of previous work …
Persistent link: https://www.econbiz.de/10012867678
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Household Leverage and Fiscal Multipliers
Andrés, Javier - 2012
positive multiplier for vacancies and employment. The latter result is in sharp contrast to models in which some households do … generate positive and significant effects on consumption and output, although the fiscal output (employment) multiplier …
Persistent link: https://www.econbiz.de/10013109328
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Fiscal Multipliers in Turbulent Times : The Case of Spain
de Cos, Pablo Hernández; Moral-Benito, Enrique - 2013
size of the fiscal multiplier remains a challenge. Indeed, the quest to estimate a unique fiscal multiplier is probably an … ill-posed one. The magnitude of the multiplier may well depend on country- and time-specific characteristics of the fiscal … stance under scrutiny. In this paper, we estimate state-specific multipliers for Spain depending on the state of the economy …
Persistent link: https://www.econbiz.de/10014156595
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Monitoring Sub-Central Government Spending in Spain
Fernández-Caballero, Laura - 2011
The evolution of Regional and Local governments' spending in Spain is currently under close scrutiny by national and …
Persistent link: https://www.econbiz.de/10013119437
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The Effects of Fiscal Shocks on the Exchange Rate in Spain
Castro, Francisco de - 2011
We analyze the impact of fiscal shocks on the Spanish effective exchange rate over the period 1981-2008 using a standard structural VAR framework. We show that government spending brings about positive output responses, jointly with real appreciation. Such real appreciation is explained by...
Persistent link: https://www.econbiz.de/10013120763
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The Young, the Old, and the Government : Demographics and Fiscal Multipliers
Basso, Henrique S. - 2018
We document that fiscal multipliers depend on the age structure of the population. Using the variation in military spending and birth rates across U.S. states, we show that local fiscal multipliers increase with the share of young people in total population. We rationalize this fact with a...
Persistent link: https://www.econbiz.de/10012908412
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Fiscal Multipliers Across the Credit Cycle
Borsi, Mihály - 2016
This paper studies the differences between fiscal multipliers in OECD economies across the credit cycle. Impulse responses are obtained using a state-dependent model with direct projections, in which multipliers depend on the state of credit markets. Identification of the effects of fiscal...
Persistent link: https://www.econbiz.de/10012983581
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Fiscal Delegation in a Monetary Union with Decentralized Public Spending
Basso, Henrique S. - 2013
This paper studies the effects of delegating control of sovereign debt issuance to an independent authority in a monetary union where public spending decisions are decentralized. The model assumes that no policy makers are capable of commitment to a rule. However, consistent with Rogoff (1985)...
Persistent link: https://www.econbiz.de/10013076606
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The Changing Structure of Government Consumption Spending
Moro, Alessio - 2018
We document a secular increase in the share of purchases from the private sector in government consumption spending: over time the government purchases relatively more private-sector goods, and relies less on its own production of value added. We build a general equilibrium model in which...
Persistent link: https://www.econbiz.de/10012906688
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The Dynamic Effect of Public Expenditure Shocks in the United States
Párraga Rodríguez, Susana - 2016
multiplier is between 0 and 1, while increases in transfers generate a multiplier effect above 1 …
Persistent link: https://www.econbiz.de/10012977701