Using the augmented version of the Blanchard-Perotti's SVAR technique, this paper seeks to empirically estimate the size of fiscal multipliers in Turkey over the period 2002:q3-2016:q2. In contrast to many previous papers that concentrate on fiscal policy instruments -taxes and government...

This paper aims to investigate the effects of various fiscal policy measures for small and open economies by analysing the implications of fiscal shocks in the Baltic countries based on data for the period from 1995 to 2018. For this purpose, we have chosen structural VAR estimation methods...

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...

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...

What are the salient features of developing Asia's tax revenues and public expenditures? How do these compare with other economies and how have they been affected by the coronavirus disease (COVID-19) pandemic? To analyze these issues we assemble data across economies drawing on a range of...

We re-examine the conventional view that to be successful, fiscal adjustments should rely on spending cuts and not on tax increases. We apply the Bai-Perron structural break filter instead of ad hoc rules to identify fiscal adjustments and their successfulness in 20 OECD countries. Our results...

As the COVID-19 pandemic has shaped public policies and government finances, it has also influenced the topics that public finance economists are researching. Because the 2020 International Institute of Public Finance (IIPF) Congress featured papers that were submitted prior to the start of the...

Canada's governments have regularly missed budget spending and revenue targets during the last decade. Taken together, the spending overruns of federal, provincial and territorial governments have surpassed $53 billion in the last 10 years. If budget targets were met more accurately, current...

This paper reviews the key issues concerning the impact of public spending and taxation on long-run growth and inequality and takes stock of existing theoretical and empirical studies. Overall, the evidence highlights that the size of the government matters for long-term growth as a too large...