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An Estimated Small Open Economy Model of the Financial Accelerator

Elekdag, Selim Ali; Justiniano, Alejandro; Tchakarov, Ivan - 2021

evaluate the importance of balance sheet vulnerabilities combined with the presence of the financial accelerator for emerging … financial accelerator and potential balance sheet vulnerabilities for macroeconomic fluctuations. Furthermore, our estimates of …

Persistent link: https://www.econbiz.de/10013318079

Growth Breaks and Growth Spells in Sub-Saharan Africa

Arizala, Francisco - 2017

This paper examines the growth performance of sub-Saharan African countries since 1960 through the lens of growth turning points (accelerations and decelerations) and periods of sustained growth (growth spells). Growth accelerations are generally associated with improved external conditions,...

Persistent link: https://www.econbiz.de/10012946903

What Determines Government Spending Multipliers?

Corsetti, Giancarlo - 2012

This paper studies how the effects of government spending vary with the economic environment. Using a panel of OECD countries, we identify fiscal shocks as residuals from an estimated spending rule and trace their macroeconomic impact under different conditions regarding the exchange rate...

Persistent link: https://www.econbiz.de/10013102258

Fiscal Multipliers in Bulgaria : Low But Still Relevant

Muir, Dirk - 2013

With fiscal adjustment proceeding quickly in Bulgaria and given the weak economic growth environment, there is keen interest in making the budget composition more growth friendly. This paper quantifies the short-term impact of fiscal policy on economic activity in Bulgaria using econometric and...

Persistent link: https://www.econbiz.de/10013085612

Growth Forecast Errors and Fiscal Multipliers

Blanchard, Olivier J. - 2013

This paper investigates the relation between growth forecast errors and planned fiscal consolidation during the crisis. We find that, in advanced economies, stronger planned fiscal consolidation has been associated with lower growth than expected, with the relation being particularly strong,...

Persistent link: https://www.econbiz.de/10013085993

Fiscal Multipliers and the State of the Economy

Baum, Anja - 2013

Only a few empirical studies have analyzed the relationship between fiscal multipliers and the underlying state of the economy. This paper investigates this link on a country-by-country basis for the G7 economies (excluding Italy). Our results show that fiscal multipliers differ across...

Persistent link: https://www.econbiz.de/10013088409

How Big are Fiscal Multipliers in Latin America?

Restrepo, Jorge - 2020

multipliers for the United States. With these results, it computes the cumulative multiplier of Ramey and Zubairy (2018), now … multiplier is much larger than the cumulative spending one. Hence, the conclusions depend on the definition of multiplier. This …

Persistent link: https://www.econbiz.de/10012840611

Is the Public Investment Multiplier Higher in Developing Countries? An Empirical Exploration

Izquierdo, Alejandro - 2020

Over the last decade, empirical studies analyzing macroeconomic conditions that may affect the size of government spending multipliers have flourished. Yet, in spite of their obvious public policy importance, little is known about public investment multipliers. In particular, the clear...

Persistent link: https://www.econbiz.de/10012843305

Fiscal Policy Effectiveness in a Small Open Economy : Estimates of Tax and Spending Multipliers in Paraguay

David, Antonio C. - 2017

is that the balanced budget multiplier for Paraguay i.e. the effect of on output of an increase in expenditures (in …

Persistent link: https://www.econbiz.de/10012957837

The Euro-Area Government Spending Multiplier at the Effective Lower Bound

Amendola, Adalgiso - 2019

economy is at the effective lower bound (ELB) or in normal times does not seem to matter for the size of the multiplier … average multiplier is about 1 in normal times and between 1.6 and 2.8 at the ELB, depending on the specification. The … difference between the two multipliers is distributed largely away from zero. More generally, the multiplier is inversely …

Persistent link: https://www.econbiz.de/10012866218