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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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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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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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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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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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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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Fiscal Policy Interventions at the Zero Lower Bound
Boubaker, Sabri - 2018
fiscal policy interventions caused by government purchases. We estimate the government spending multiplier to be above 1 …
Persistent link: https://www.econbiz.de/10012934551
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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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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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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