Since the fiscal expansion during the Great Recession 2008-2009 and the current European consolidation and austerity measures, the analysis of fiscal multiplier effects is back on the scientific agenda. The number of empirical studies is growing fast, tackling the issue with manifold model...

Since the fiscal expansion during the Great Recession 2008-2009 and the current European consolidation and austerity measures, the analysis of fiscal multiplier effects is back on the scientific agenda. The number of empirical studies is growing fast, tackling the issue with manifold model...

We show that fiscal multiplier estimations may be biased by movements in asset and credit markets, as they facilitate spurious correlations of changes in cyclically adjusted revenues and spending with GDP growth via wrong identifications and an omitted variable bias, thus overstating episodes of...

Sind fiskalpolitische Maßnahmen geeignet zur Stabilisierung konjunktureller Entwicklungen? Dies hängt ganz entscheidend davon ab, wie eine Volkswirtschaft fiskalische Impulse verarbeitet. Eine systematische Analyse (Meta-Regressions-Analyse) von 104 Studien mit 1069 Auswertungen zur Höhe des...

We analyze whether estimated multiplier effects are systematically higher if the economy suffers a downturn. For that purpose, we conduct a meta-regression analysis on a unique data set of 98 empirical studies with more than 1800 observations on multiplier effects and control for regime...

This policy brief reexamines the effects of the Greek austerity experiment on its economy via a counterfactual analysis. We combine the fiscal multipliers from the meta regression analysis in Gechert and Rannenberg (2014) to the fiscal consolidation measures that have been implemented in Greece...