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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

Sub-National Credit Risk and Sovereign Bailouts : Who Pays the Premium?

Jenkner, E. - 2014

risk from the latter to the former — on the day a sovereign bailout is announced. Using daily financial market data for …

Persistent link: https://www.econbiz.de/10013058431

The Impact of Bailouts on the Probability of Sovereign Debt Crises : Evidence from IMF-Supported Programs

Balima, Hippolyte - 2019

This paper studies the role of IMF-supported programs in mitigating the likelihood of subsequent sovereign defaults in borrowing countries. Using a panel of 106 developing countries from 1970 to 2016 and an entropy balancing methodology, we find that IMF-supported programs significantly reduce...

Persistent link: https://www.econbiz.de/10012892896

Governments’ Payment Discipline : The Macroeconomic Impact of Public Payment Delays and Arrears

Checherita-Westphal, Cristina D. - 2015

This paper considers the impact of changes in the payment discipline of governments on the private sector. We argue that increased delays in public payments can affect private sector liquidity and profits and hence ultimately economic growth. We test this prediction empirically for European...

Persistent link: https://www.econbiz.de/10013027628

Fiscal Policy Implications for Labor Market Outcomes in Middle-Income Countries

Lemus, Antonio - 2015

Many governments have initiated public employment programs or expanded the existing ones in response to high unemployment. However, in many middle-income countries, a relatively large government coexists with persistently high unemployment. This paper explores the question of whether public...

Persistent link: https://www.econbiz.de/10013036636

Fiscal Redistribution and Social Welfare

Coady, David P. - 2019

discussion of fiscal redistribution within the standard social welfareframework, which lends itself to a transparent and … practical evaluation of the extent anddeterminants of fiscal redistribution. Differences in fiscal redistribution are decomposed … factorsexplaining differences in their fiscal redistribution and to discuss patterns in fiscalredistribution highlighted in the …

Persistent link: https://www.econbiz.de/10012889140

Dealing with Systemic Sovereign Debt Crises : Fiscal Consolidation, Bail-Ins or Official Transfers?

Sandri, Damiano - 2016

The paper presents a tractable model to understand how international financial institutions (IFIs) should deal with the sovereign debt crisis of a systemic country, in which case private creditors' bail-ins entail international spillovers. Besides lending to the country up to its borrowing...

Persistent link: https://www.econbiz.de/10013002157

Private Sector Deleveraging and Growth Following Busts

Chen, Sally - 2015

Balance sheet recessions have been a drag on activity after the Global Financial Crisis, underscoring the important role of balance sheet adjustment for resuming sustained growth. In this paper we examine private sector deleveraging experiences across 36 advanced and emerging economies countries...

Persistent link: https://www.econbiz.de/10013025503

A Modern History of Fiscal Prudence and Profligacy

Mauro, Paolo - 2013

We draw on a newly collected historical dataset of fiscal variables for a large panel of countries — to our knowledge, the most comprehensive database currently available — to gauge the degree of fiscal prudence or profligacy for each country over the past several decades. Specifically, our...

Persistent link: https://www.econbiz.de/10013085975

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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