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Caporale, Guglielmo Maria; Girardi, Alessandro - 2011

institutions. -- Global VAR methodology ; fiscal spillovers ; euro area ; public debt …

Persistent link: https://www.econbiz.de/10009579628

Government spending multipliers in (un)certain times

Fritsche, Jan Philipp; Klein, Mathias; Rieth, Malte - 2020 - This version: September 15, 2020

We estimate the dynamic effects of government spending shocks, using time-varying volatility in US data modeled through a Markov switching process. We find that the average government spending multiplier is significantly and persistently above one, driven by a crowding-in of private consumption...

Persistent link: https://www.econbiz.de/10012289271

No taxation without reallocation : the distributional effects of tax changes

Ettmeier, Stephanie - 2022

This paper investigates the dynamic effects of tax changes on the cross-sectional distribution of disposable income in the United States using a narrative identification approach. I distinguish between changes in personal and corporate income taxes and quantify the distributional effects on...

Persistent link: https://www.econbiz.de/10013435278

Partial identification of heteroskedastic structural VARs : theory and Bayesian inference

Lütkepohl, Helmut; Shang, Fei; Uzeda, Luis; Woźniak, … - 2024

We consider structural vector autoregressions identified through stochastic volatility. Our focus is on whether a particular structural shock is identified by heteroskedasticity without the need to impose any sign or exclusion restrictions. Three contributions emerge from our exercise: (i) a set...

Persistent link: https://www.econbiz.de/10014528602

Assessing the sustainability of government debt : on the different states of debt/GDP process

Velinov, Anton - 2014

This paper discusses the type of trajectory a country's public debt path follows. In particular, a Markov switching ADF … model is used to assess the sustainability of public debt by testing whether a government's present value borrowing … methodology. The number of lags and states are in principle unrestricted and all of the parameters can be switching. Debt …

Persistent link: https://www.econbiz.de/10010238831

Construction of a narrative instrument for government investment

Clemens, Marius; Michelsen, Claus; Rieth, Malte - 2025

Persistent link: https://www.econbiz.de/10015207258

An estimation and decomposition of the government investment multiplier

Clemens, Marius; Michelsen, Claus; Rieth, Malte - 2025

We construct a narrative instrument for government investment from official records in Germany. Using structural vector autoregressions, we document a significant crowding-in of private investment and an output multiplier of roughly 2. Then, we match a New Keynesian dynamic stochastic general...

Persistent link: https://www.econbiz.de/10015207271

The euro area crisis management framework : consequences and institutional follow-ups

Belke, Ansgar - 2010

The current instruments in the EU to deal with debt and liquidity crises include among others the European Financial …

Persistent link: https://www.econbiz.de/10009268966

On the relationship between public and private investment in the euro area

Dreger, Christian; Reimers, Hans-Eggert - 2014

future direction of fiscal austerity programs to combat the euro area debt crisis. …

Persistent link: https://www.econbiz.de/10010248168

Fiscal adjustments and business cycle synchronization

Agnello, Luca; Caporale, Guglielmo Maria; Sousa, Ricardo M. - 2013

Using a panel of annual data for 20 countries we show that synchronized fiscal consolidation (stimulus) programmes in different countries make their business cycles more closely linked, especially in the case of fiscal adjustments lasting 2 or 3 years. We also find: (i) little evidence of...

Persistent link: https://www.econbiz.de/10010211770