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policy on the aggregate action, and it would like to know the corresponding economic multiplier, that is, the change in the … positive shock, the change in the aggregate action and the corresponding economic multiplier can both widely differ. In this …
Persistent link: https://www.econbiz.de/10012907318
the generality of this result w.r.t. size and persistence of the shock, size of the government spending multiplier, and … spending on economic recovery. -- deficit spending ; government spending multiplier ; economic recovery ; economic ; growth. …
Persistent link: https://www.econbiz.de/10003857658
The output multiplier turns negative before a deficit spending program expires. We show the generality of this … impact multiplier, and the scale and duration of the stimulus program. We also show that results are quantitatively very … stimulus expires. -- Fiscal stimulus ; government spending ; output multiplier ; economic recovery …
Persistent link: https://www.econbiz.de/10008909549
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
This paper investigates the role of informality in affecting the magnitude of the fiscal multiplier in a panel of 141 … size of the fiscal multiplier. This result holds irrespective of the levels of economic development and institutional …. Thus, informality raises the size of the unofficial multiplier. A higher degree of non-separability between public and …
Persistent link: https://www.econbiz.de/10014083505
To accurately quantify the effects of government spending, it is necessary to identify exogenous changes in government spending. In this paper, we estimate a proxy VAR, developed by Stock and Watson (2012) and Mertens and Ravn (2013), using a revised supplementary budget from the government as...
Persistent link: https://www.econbiz.de/10013301185
This paper asks whether the post-Keynesian or New Keynesian paradigm provides a more realistic description of the effects of fiscal policy on output and consumption. I establish some macro and microeconomic stylized facts on fiscal multipliers and marginal propensities to consume based on the...
Persistent link: https://www.econbiz.de/10014433734
Persistent link: https://www.econbiz.de/10015055053
The paper aims to answer two main questions. Is it possible to calculate and analyze fiscal, investment and export multipliers in the short term? The classic approach is mainly based on the input–output balances, which are most often published every 5 years. Is it possible to determine the...
Persistent link: https://www.econbiz.de/10012384407
Persistent link: https://www.econbiz.de/10015052700