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...

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...

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...

We apply meta regression analysis to a unique data set of 104 studies on multiplier effects with 1069 reported multipliers in order to derive stylized facts and to quantify the differing effectiveness of the composition of fiscal impulses, adjusted for the interference of study-design...

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...

The tests carried out by Blanchard and Leigh (2013; IMF, 2012) and Fátas and Summers (2018) are extended here into a panel framework in order to assess the empirical basis of the so-called IMF "mea culpa" regarding the underestimation of Keynesian multipliers during the euro area crisis. The...

With fiscal adjustment proceeding quickly in Bulgaria and given the weak economic growth environment, there is keen interest in making the budget composition more growth friendly. This paper quantifies the short-term impact of fiscal policy on economic activity in Bulgaria using econometric and...

In 2009, Germany invested 15.4 Billion Euro in infrastructure to avert the looming recession. In this study, we evaluate whether the German stimulus program was successful in limiting the impact of the crisis on the job market. We exploit exogenous cross-sectional variation to identify the...

The fiscal position can affect fiscal multipliers through two channels. Through the Ricardian channel, households reduce consumption in anticipation of future fiscal adjustments when fiscal stimulus is implemented from a weak fiscal position. Through the interest rate channel, fiscal stimulus...

This paper analyzes the relationship between fiscal multipliers and fiscal positions of governments using an Interactive Panel Vector Auto Regression model and a large dataset of advanced and developing economies. Our methodology permits us to trace the endogenous relationship between fiscal...