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We assess the role that nontradable goods play as a determinant of fiscal spending multipliers, making use of a two-sector model. While fiscal multipliers increase with the share of nontradable goods, an inverted U-shaped relationship exists between multiplier size and the import share....
Persistent link: https://www.econbiz.de/10012823559
We study government spending multipliers of the UK economy using a time-varying parameter factor augmented vector autoregressive model (TVP-FAVAR) over the period 1966:Q1-2015:Q4. We show that government spending multipliers vary over time and that most of the variation is cyclical: multipliers...
Persistent link: https://www.econbiz.de/10012868049
We study fiscal spending multipliers of the UK economy using a time-varying parameter factor augmented vector autoregressive (TVP-FAVAR) model. We show that government spending multipliers vary over time and that most of the variation is cyclical: multipliers are typically above one in...
Persistent link: https://www.econbiz.de/10012932638
We study empirically how various labor market institutions - (i) union density, (ii) unemployment benefit remuneration, and (iii) employment protection - shape fiscal multipliers and output volatility. Our theoretical model highlights that more stringent labor market institutions attenuate both...
Persistent link: https://www.econbiz.de/10013201691
Persistent link: https://www.econbiz.de/10012242598
We assess the role that nontradable goods play as a determinant of fiscal spending multipliers, making use of a two-sector model. While fiscal multipliers increase with the share of nontradable goods, an inverted U-shaped relationship exists between multiplier size and the import share....
Persistent link: https://www.econbiz.de/10012270412
Persistent link: https://www.econbiz.de/10011748710
We study empirically how various labor market institutions – (i) union density, (ii) unemployment benefit remuneration, and (iii) employment protection – shape fiscal multipliers and output volatility. Our theoretical model highlights that more stringent labor market institutions attenuate...
Persistent link: https://www.econbiz.de/10014083477
We assess the role that nontradable goods play as a determinant of fiscal spending multipliers, making use of a two-sector model. While fiscal multipliers increase with the share of nontradable goods, an inverted U-shaped relationship exists between multiplier size and the import share....
Persistent link: https://www.econbiz.de/10014321510
Persistent link: https://www.econbiz.de/10014478210