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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
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Fiscal stimulus and the extensive margin : conference paper
Lewis, Vivien; Winkler, Roland - 2013
Using VAR analysis on US data, we show that unanticipated fiscal expansions boost private consumption and business formation. Models with an extensive investment margin, i.e. endogenous firm and product entry, have difficulties explaining these two phenomena simultaneously. Considering different...
Persistent link: https://www.econbiz.de/10010339394
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The time for austerity : estimating the average treatment effect of fiscal policy
Jordà, Òscar; Taylor, Alan M. - 2014
After the Global Financial Crisis a controversial rush to fiscal austerity followed in many countries. Yet research on the effects of austerity on macroeconomic aggregates was and still is unsettled, mired by the difficulty of identifying multipliers from observational data. This paper...
Persistent link: https://www.econbiz.de/10010463587
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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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The Age for Austerity? Population Age Structure and Fiscal Multipliers
Kopecky, Joseph - 2021
Advanced economies face two important trends: population aging and rising debt. In the coming years it will be critical to understand how policies undertaken by governments interact with their changing age structures. In a panel of advanced economies, I show that fiscal deficit consolidation...
Persistent link: https://www.econbiz.de/10013311084
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De facto fiscal space and fiscal stimulus : definition and assessment
Aizenman, Joshua; Jinjarak, Yothin - 2010
We define the notion of 'de facto fiscal space' of a country as the inverse of the outstanding public debt relative to the de facto tax base, where the latter measures the realized tax collection, averaged across several years to smooth for business cycle fluctuations. We apply this concept to...
Persistent link: https://www.econbiz.de/10008732193
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De facto fiscal space and fiscal stimulus : definition and assessment
Aizenman, Joshua; Jinjarak, Yothin - 2010
We define the notion of 'de facto fiscal space' of a country as the outstanding public debt relative to the de facto tax base, where the latter measures the realized tax collection, averaged across several years to smooth for business cycle fluctuations. We apply this concept to account for the...
Persistent link: https://www.econbiz.de/10008699018
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Fiscal rules migate economic setbacks during crises
Kriwoluzky, Alexander; Pagenhardt, Laura; Rieth, Malte - In: DIW weekly report : economy, politics, science : a … 10 (2020) 52/53, pp. 495-503
91 countries around the world have established fiscal rules to limit national debt and/or budget deficits. Using data from previous natural disasters, this report investigates how these fiscal rules affect overall economic development following a crisis. The results show countries with fiscal...
Persistent link: https://www.econbiz.de/10012426658
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The Fiscal Cost of Financial Instability
Di Guilmi, Corrado - 2011
This paper presents an agent based model that investigates the possible outcomes of different fiscal and regulatory policies in a financially fragile economy. We analyse the consequences of the attempt by the government to counteract a downturn ignoring the debt dynamics as modelled by Fisher...
Persistent link: https://www.econbiz.de/10013130318