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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
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Would Population Aging Change the Output Effects of Fiscal Policy?
Honda, Jiro - 2020
Would population aging affect the effectiveness of fiscal stimulus? Despite the renewed focus on population aging, there are few empirical studies on the output effects of fiscal policy in aging economies. Our study fills this gap by analyzing this issue in OECD countries. We find that, as...
Persistent link: https://www.econbiz.de/10012828221
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Exploring the Output Effect of Fiscal Policy Shocks in Low Income Countries
Honda, Jiro - 2020
What do we know about the output effects of fiscal policy in low income countries (LICs)? There are very few empirical studies on the subject. This paper fills this gap by estimating the output effects of government spending shocks in LICs. Our analysis-based on the local projection method-finds...
Persistent link: https://www.econbiz.de/10012831612
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Banks in the Global Integrated Monetary and Fiscal Model
Andrle, Michal - 2015
The Global Integrated Monetary and Fiscal model (GIMF) is a multi-region DSGE model developed by the Economic Modeling Division of the IMF for policy and scenario analysis. This paper compares two versions of GIMF, GIMF with a conventional financial accelerator, where bank balance sheets do not...
Persistent link: https://www.econbiz.de/10013016607
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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
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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
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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
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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
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Fiscal Policy Multipliers in Small States
Alichi, Ali - 2019
Government debt in many small states has risen beyond sustainable levels and some governments are considering fiscal consolidation. This paper estimates fiscal policy multipliers for small states using two distinct models: an empirical forecast error model with data from 23 small states across...
Persistent link: https://www.econbiz.de/10012871788
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Credit and Fiscal Multipliers in China
Chen, Sophia - 2018
expenditure. We estimate a fiscal multiplier of 0.8 and a credit multiplier of 0.2 in 2001-2015. The multipliers have changed over … time. The fiscal multiplier has increased from 0.75 in 2001-2008 to 1.4 in 2010-2015. The credit multiplier has declined …
Persistent link: https://www.econbiz.de/10012929935