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Fiscal multipliers of central, state and local government and of the social security funds in Germany : evidence of a SVAR
Hollmayr, Josef; Kuckuck, Jan - 2018
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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Biases in fiscal multiplier estimates
Asatryan, Zareh; Havlik, Annika; Heinemann, Friedrich; … - 2019
variance in multiplier estimates can be explained by the national imprint and various author incentives. For this purpose, we … matter for the degree and direction of multiplier estimates. These potential biases largely disappear for teams of …
Persistent link: https://www.econbiz.de/10012029022
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New Keynesian versus old Keynesian government spending multipliers : a comment
Hughes Hallett, Andrew; Rannenberg, Ansgar; Schreiber, Sven - 2014
multiplier far below one. However, the stimulus ́multiplier strongly depends on the assumed monetary policy response. Based on …
Persistent link: https://www.econbiz.de/10010258714
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Expectations formation, sticky prices, and the ZLB
Bersson, Betsy; Hürtgen, Patrick; Paustian, Matthias - 2019
At the zero lower bound (ZLB), expectations about the future path of monetary or fiscal policy are crucial. We model expectations formation under level-k thinking, a form of bounded rationality introduced by García-Schmidt and Woodford (2019) and Farhi and Werning (2017), consistent with...
Persistent link: https://www.econbiz.de/10012101259
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Fiscal multipliers over the business cycle
Michaillat, Pascal - 2012
Persistent link: https://www.econbiz.de/10009426268
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Imperfect capital markets and econopmic fluctuations : a review of recent theoretical developments
Hansen, Eric - 1992
Persistent link: https://www.econbiz.de/10000914067
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Extrinsic and intrisic uncertainty in a world with incomplete asset markets and asset retrading : a three period example
Burnell, Stephen J. - 1990
Persistent link: https://www.econbiz.de/10000920659
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Debt and incomplete financial markets : a case for nominal GDP targeting
Sheedy, Kevin D. - 2013
Persistent link: https://www.econbiz.de/10009746317
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Public infrastructure, congestion, and fiscal policy
Bennett, John; Lawler, Phillip - 2002
Persistent link: https://www.econbiz.de/10001664572
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Fiscal multipliers and time preference
Marcheggiano, Gilberto; Miles, David - 2013
expenditure multiplier. This study uses recent cross-country data on reported rates of time preferences gathered by Wang, Rieger … expenditure multiplier. Our findings may help to explain some of the differences in view over the optimal path for fiscal …
Persistent link: https://www.econbiz.de/10009692601