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Pre- and Post-GFC Policy Multipliers
Rochon, Céline; Ouliaris, Sam - 2021
This paper estimates the change in policy multipliers in the U.S. relative to their pre-2008 financial crisis levels using an augmented Blanchard-Perotti model to allow for the dynamic effects of shocks to the central bank balance sheet, real interest rates and debt levels on economic activity....
Persistent link: https://www.econbiz.de/10013252047
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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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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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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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Fiscal Multipliers and Institutions in Peru : Getting the Largest Bang for the Sol
Vtyurina, Svetlana - 2016
With the end of the commodity super cycle, Peru's potential growth has declined, raising questions of what government policies could do to help boost growth, including over the medium-term. Our econometric analysis shows that public investment multipliers have a larger effect on growth than...
Persistent link: https://www.econbiz.de/10012977818
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A Simple Method to Compute Fiscal Multipliers
Batini, Nicoletta - 2014
propose a simple method — dubbed the “bucket approach” — to come up with reasonable multiplier estimates. The approach bunches … countries into groups (or “buckets”) with similar multiplier values, based on their characteristics. It also takes into account …
Persistent link: https://www.econbiz.de/10013050669
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Fiscal Spillovers in the Euro Area : Letting the Data Speak
Dabla-Norris, Era - 2018
We estimate a panel VAR model that captures cross-country, dynamic interlinkages for 10 euro area countries using quarterly data for the period 1999-2016. Our analysis suggests that fiscal spillovers are significant and tend to be larger for countries with close trade and financial links as...
Persistent link: https://www.econbiz.de/10012928609