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Revenue- versus spending-based consolidation plans : the role of follow-up
Beetsma, Roel; Furtuna, Oana; Giuliodori, Massimo - 2018
The literature on fiscal multipliers finds that spending-based fiscal consolidations tend to have more benign macro-economic consequences than revenue-based consolidations. By directly comparing ex-post data with consolidation plans, we present evidence of a systematically weaker follow-up of...
Persistent link: https://www.econbiz.de/10011904377
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Learning about fiscal multipliers during the European sovereign debt crisis : evidence from a quasi-natural experiment
Gόrnicka, Lucyna; Kamps, Christophe; Koester, Gerrit; … - 2018
Identifying fiscal multipliers is usually constrained by the absence of a counterfactual scenario. Our new data set allows overcoming this problem by making use of the fact that recommendations under the EU's excessive deficit procedure (EDP) provide both a baseline no-policy-change scenario and...
Persistent link: https://www.econbiz.de/10011856496
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Fiscal multipliers with financial fragmentation risk and interactions with monetary policy
Darracq Pariès, Matthieu; Müller, Georg; … - 2020
multiplier of fiscal expansion is found to be significantly dampened by tighter financial conditions in case households are less …
Persistent link: https://www.econbiz.de/10012241104
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Interactions between fiscal multipliers and sovereign risk premium during fiscal consolidation : model based assessment for the euro area
Lalik, Magdalena - 2017
those multipliers to the amount of austerity measures implemented in years 2011-14, the paper evaluates their possible …
Persistent link: https://www.econbiz.de/10011637498
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Fiscal multipliers during consolidation : evidence from the European Union
Cugnasca, Alessandro; Rother, Philipp C. - 2015
Persistent link: https://www.econbiz.de/10011448468
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Does fiscal austerity affect public opinion?
Kalbhenn, Anna; Stracca, Livio - 2015
Persistent link: https://www.econbiz.de/10010516545
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Keynesian government spending multipliers and spillovers in the euro area
Cwik, Tobias; Wieland, Volker - 2010
The global financial crisis has lead to a renewed interest in discretionary fiscal stimulus. Advocates of discretionary … measures emphasize that government spending can stimulate additional private spending - the Keynesian multiplier effect. Thus … features such as price and wage rigidities to evaluate the impact of the fiscal stimulus. Four of them suggest that the planned …
Persistent link: https://www.econbiz.de/10008728755
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New Keynesian versus old Keynesian government spending multipliers
Cogan, John F.; Cwik, Tobias; Taylor, John B. - 2009
estimated stimulus is extremely small with GDP and employment effects only onesixth as large. -- Fiscal multiplier ; New … used in practice to evaluate fiscal policy stimulus proposals are not robust. Government spending multipliers in an … Keynesian Model ; fiscal stimulus ; government spending : macroeconomic modeling …
Persistent link: https://www.econbiz.de/10003963764
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Combining time-variation and mixed-frequencies: an analysis of government spending multipliers in Italy
Cimadomo, Jacopo; D'Agostino, Antonello - 2015
Persistent link: https://www.econbiz.de/10011349800
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Identifying the effects of government spending shocks with and without expected reversal : an approach based on U.S. real-time data
Cimadomo, Jacopo; Hauptmeier, Sebastian; Sola, Sergio - 2011
This paper investigates how expectations about future government spending affect the transmission of fiscal policy shocks. We study the effects of two different types of government spending shocks in the United States: (i) spending shocks that are accompanied by an expected reversal of public...
Persistent link: https://www.econbiz.de/10009238019