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Nontradable Goods and Fiscal Multipliers
Cuaresma, Jesus Crespo - 2020
between multiplier size and the import share. Employing an interacted panel VAR model for EU countries, we estimate the effect …
Persistent link: https://www.econbiz.de/10012823559
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The Euro Area Government Spending Multiplier in Demand- and Supply-Driven Recessions
di Serio, Mario; Fragetta, Matteo; Gasteiger, Emanuel; … - 2022
inflation from its trend, implying that the more demand-driven a recession, the higher the multiplier. Median multipliers range …
Persistent link: https://www.econbiz.de/10013292507
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Are Fiscal Multipliers Estimated with Proxy-SVARs Robust?
Angelini, Giovanni - 2020
multiplier is sensitive to the assumption of orthogonality between total factor productivity (non-fiscal proxy) and tax shocks …. If this correlation is assumed to be zero, the tax multiplier is found to be around one. If such correlation is non …-zero, as supported by our empirical evidence, we find a tax multiplier three times as large. Second, we find the spending …
Persistent link: https://www.econbiz.de/10012827668
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What Do We Know About the Macroeconomic Effects of Fiscal Policy? A Brief Survey of the Literature on Fiscal Multipliers
Castelnuovo, Efrem - 2019
This article reviews recent research findings on the effects of fiscal multipliers in normal times, during booms/busts, and in the presence of the zero lower bound. Studies on the effects of fiscal policy in open economy settings as well as contributions on the fiscal-monetary policy mix are...
Persistent link: https://www.econbiz.de/10012892219
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Labor Market Institutions, Fiscal Multipliers, and Macroeconomic Volatility
Böck, Maximilian; Crespo Cuaresma, Jesus; Glocker, … - 2022
We study empirically how various labor market institutions – (i) union density, (ii) unemployment benefit remuneration, and (iii) employment protection – shape fiscal multipliers and output volatility. Our theoretical model highlights that more stringent labor market institutions attenuate...
Persistent link: https://www.econbiz.de/10014083477
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Can we rely upon fiscal policy estimates in countries with unreported production of 15 per Cent (or more) of GDP?
Basile, Raffaella; Chiarini, Bruno; Marzano, Elisabetta - 2011
This paper analyzes the effects of fiscal policy in Italy by employing a database containing two statistical novelties … effect on total GDP. In this setup the spending multiplier shows large long-run effects, considerably stronger than those …
Persistent link: https://www.econbiz.de/10010277384
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Identifying Global and National Output and Fiscal Policy Shocks Using a Gvar
Chudik, Alexander - 2019
The paper contributes to the growing global VAR (GVAR) literature by showing how global and national shocks can be identified within a GVAR framework. The usefulness of the proposed approach is illustrated in an application to the analysis of the interactions between public debt and real output...
Persistent link: https://www.econbiz.de/10012892134
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Fiscal Performance of Minority Governments : New Empirical Evidence for OECD Countries
Potrafke, Niklas - 2019
I use new data on central and general governments for 23 OECD countries over the period 1960-2015 (unbalanced panel) to examine fiscal performance under minority governments. The results do not suggest that minority governments had higher fiscal deficits and public expenditure than majority...
Persistent link: https://www.econbiz.de/10012866314
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The Fiscal Response to Revenue Shocks
Berset, Simon; Huber, Martin; Schelker, Mark - 2021
We study the impact of fiscal revenue shocks on local fiscal policy. We focus on the very volatile revenues from the immovable property gains tax in the canton of Zurich, Switzerland, and analyze fiscal behavior following large and rare positive and negative revenue shocks. We apply causal...
Persistent link: https://www.econbiz.de/10013249661
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Does Government Spending Efficiency Improve Fiscal Sustainability?
Afonso, António; Alves, José - 2022
We evaluate the impact of government spending efficiency on fiscal sustainability for a panel of 35 OECD countries during the period of 2007-2020. To answer our research question we first compute the magnitude of the responses of government revenues to changes in government spending. Next, we...
Persistent link: https://www.econbiz.de/10013289691