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The Conditional Effect of Economic Freedom on Fiscal Multipliers
Acevedo, Rafael A; Lorca-Susino, Maria; Mora Mora, Jose - 2022
countries with the mean level of economic freedom had a fiscal multiplier of around 1.0, when economic freedom is at the highest … level of the sample the multiplier is around 0.6. Results show the inverse relationship between the fiscal multiplier and … the level of economic freedom, that is, the higher the level of economic freedom, the lower the multiplier …
Persistent link: https://www.econbiz.de/10014076875
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Economic openness and fiscal multipliers
Riguzzi, Marco; Wegmüller, Philipp - 2015
fiscal multiplier. However, traditional macroeconomic models have difficulties in accounting for this evidence. It is the … monetary policy. The presence of counter-cyclical firm markups is a crucial ingredient to generating a fiscal multiplier of … fiscal multiplier. …
Persistent link: https://www.econbiz.de/10010486909
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Fiscal multipliers in a panel of countries
Contreras, Juan; Battelle, Holly - 2014
. Contrary to previous research, we find no strong evidence of monetary accommodation, a positive and larger fiscal multiplier in …
Persistent link: https://www.econbiz.de/10010402581
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Global policy at the zero lower bound in a large-scale DSGE model
Gomes, Sandra; Jacquinot, Pascal; Mestre, Ricardo - 2010
The purpose of this paper is to analyse whether fiscal policies can alleviate the effects of the zero lower bound (ZLB) on interest rates and if they should be coordinated internationally. The analysis is carried out using EAGLE, a DSGE model of the global economy. We consider that the fiscal...
Persistent link: https://www.econbiz.de/10008688538
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Global Policy at the Zero Lower Bound in a Large-Scale DSGE Model
Gomes, Sandra; Jacquinot, Pascal; Mestre, Ricardo; … - 2021
The purpose of this paper is to analyse whether fiscal policies can alleviate the effects of the zero lower bound (ZLB) on interest rates and if they should be coordinated internationally. The analysis is carried out using EAGLE, a DSGE model of the global economy. We consider that the fiscal...
Persistent link: https://www.econbiz.de/10013316157
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Fiscal Multipliers in a Panel of Countries
Contreras, Juan - 2014
. Contrary to previous research, we find no strong evidence of monetary accommodation, a positive and larger fiscal multiplier in …
Persistent link: https://www.econbiz.de/10013050083
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Comparing fiscal multipliers across models and countries in Europe
Kilponen, Juha; Pisani, Massimiliano; Schmidt, Sebastian; … - 2015
Persistent link: https://www.econbiz.de/10010500637
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Comparing Fiscal Multipliers Across Models and Countries in Europe
Kilponen, Juha - 2015
This paper employs fifteen dynamic macroeconomic models maintained within the European System of Central Banks to assess the size of fiscal multipliers in European countries. Using a set of common simulations, we consider transitory and permanent shocks to government expenditures and different...
Persistent link: https://www.econbiz.de/10013026620
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Comparing fiscal multipliers across models and countries in Europe
Kilponen, Juha; Pisani, Massimiliano; Schmidt, Sebastian; … - 2015
This paper employs fifteen dynamic macroeconomic models maintained within the European System of Central Banks to assess the size of fiscal multipliers in European countries. Using a set of common simulations, we consider transitory and permanent shocks to government expenditures and different...
Persistent link: https://www.econbiz.de/10011587761
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Output response to government spending : evidence from new international military spending data
Sheremirov, Viacheslav; Spirovska, Sandra - 2015 - This version: July 2015
in the previous literature based on U.S. data - we find that the pooled government spending multiplier is small: below 0 ….2. This estimate, however, masks substantial heterogeneity: the debtfinanced spending multiplier is larger and can be well … above 1 if monetary policy is accommodative. The multiplier is especially large in recessions and when the government …
Persistent link: https://www.econbiz.de/10011305775