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Fiscal shocks and real exchange rate dynamics: some evidence for Latin America
Caporale, Guglielmo Maria; Ciferri, Davide; Girardi, … - 2008
This paper analyses the effects of fiscal shocks using a two-country macroeconomic model for output, labour input, government spending and relative prices which provides the orthogonality restrictions for obtaining the structural shocks. Dynamic simulation techniques are then applied, in...
Persistent link: https://www.econbiz.de/10010264312
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Multipliers of taxes and public spending in Colombia : SVAR and local projections approaches
Restrepo-Ángel, Sergio; Rincón Castro, Hernán; … - In: Latin American journal of central banking : LAJCB 3 (2022) 3, pp. 1-22
This paper estimates and analyzes multipliers for tax revenue and public spending for Colombia using structural autoregressive vectors and local projections models. Quarterly series of the central national government between 2000Q1 and 2018Q4 are used. The results show fiscal multipliers that...
Persistent link: https://www.econbiz.de/10013393435
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What are the effects of fiscal policy shocks?
Mountford, Andrew (contributor); Uhlig, Harald (contributor) - 2005
We propose and apply a new approach for analyzing the effects of fiscal policy using vector autoregressions. Unlike most of the previous literature this approach does not require that the contemporaneous reaction of some variables to fiscal policy shocks be set to zero or need additional...
Persistent link: https://www.econbiz.de/10003147823
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Public Debt Dynamics : The Effects of Austerity, Inflation, and Growth Shocks
Cherif, Reda - 2012
We study how macroeconomic shocks affect U.S. public debt dynamics using a VAR with debt feedback. Following a fiscal … austerity shock, the debt ratio initially declines and then returns to its pre-shock path. Yet, the effect is not statistically … times. An inflation shock only slightly reduces the debt ratio for a few quarters. A positive growth shock unambiguously …
Persistent link: https://www.econbiz.de/10013098577
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What are the Effects of Fiscal Policy Shocks?
Uhlig, Harald; Mountford, Andrew - 2008
We investigate the effects of fiscal policy surprises for US data, using vector autoregressions. We overcome the difficulties that changes in fiscal policy may manifest themselves in variables other than fiscal variables first and that fiscal variables may respond "automatically" to business...
Persistent link: https://www.econbiz.de/10014118576
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What are the effects of fiscal policy shocks?
Mountford, Andrew; Uhlig, Harald - 2005
We propose and apply a new approach for analyzing the effects of fiscal policy using vector autoregressions. Unlike most of the previous literature this approach does not require that the contemporaneous reaction of some variables to fiscal policy shocks be set to zero or need additional...
Persistent link: https://www.econbiz.de/10010263594
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Monetary policy surprise shocks under different fiscal regimes : a panel analysis of the Euro Area
Afonso, António; Alves, José; Ionta, Serena - 2023
response the debt is more important in the effect of monetary policy, for prices, the "Ricardian" nature of fiscal policy … appears to be far more crucial. However, regarding inflation targeting, monetary policy is most effective in the low debt …
Persistent link: https://www.econbiz.de/10014336399
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Vertical effects of fiscal rules : the Swiss experience
Burret, Heiko T.; Feld, Lars P. - 2014
. The paper investigates the influence of Swiss cantonal debt brakes on municipal finances during the years 1980 - 2011 by …
Persistent link: https://www.econbiz.de/10010424734
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Debt and the effects of fiscal policy
Favero, Carlo; Giavazzi, Francesco - 2007
the effects of fiscal shocks, keeping track of the debt dynamics that arise following a fiscal shock and allowing for the … possibility that taxes, spending, and interest rates might respond to the level of the debt as it evolves over time. We show that … the absence of a debt feedback effect can result in incorrect estimates of the dynamic effects of fiscal shocks. In …
Persistent link: https://www.econbiz.de/10010280860
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Debt and the effects of fiscal policy
Favero, Carlo A. (contributor);  … - 2007
the effects of fiscal shocks, keeping track of the debt dynamics that arise following a fiscal shock and allowing for the … possibility that taxes, spending, and interest rates might respond to the level of the debt as it evolves over time. We show that … the absence of a debt feedback effect can result in incorrect estimates of the dynamic effects of fiscal shocks. In …
Persistent link: https://www.econbiz.de/10003715720