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What are the Effects of Fiscal Policy Shocks?

Mountford, Andrew; Uhlig, Harald - C.E.P.R. Discussion Papers - 2002

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/10005124017

Fiscal Policy and External Adjustment: New Evidence

Bouakez, Hafedh; Chihi, Foued; Normandin, Michel - Centre Interuniversitaire sur le Risque, les Politiques … - 2011

Relatively little empirical evidence exists about countries’ external adjustment to changes in fiscal policy and, in particular, to changes in taxes. This paper addresses this question by measuring the effects of tax and government spending shocks on the current account and the real exchange...

Persistent link: https://www.econbiz.de/10009283399

An Efficient test of Fiscal Sustainability

Gabriel, Vasco; Sangduan, Pataaree - School of Economics, University of Surrey - 2010

We suggest a multivariate efficient test of the 'strong' fiÂ…scal sustainability hypothesis, based on Horvath and Watson's (1995) cointegration test when cointegration vectors are pre-specified. Using data for a set of developed and developing economies, we show that, unlike our procedure,...

Persistent link: https://www.econbiz.de/10008803018

An Efficient Test of Fiscal Sustainability

Gabriel, Vasco J.; Sangduan, Pataaree - Núcleo de Investigação em Políticas Económicas … - 2010

We suggest a multivariate efficient test of the 'strong' fiscal sustainability hypothesis, based on Horvath and Watson's (1995) cointegration test when cointegration vectors are pre-specified. Using data for a set of developed and developing economies, we show that, unlike our procedure,...

Persistent link: https://www.econbiz.de/10008765277

Fiscal policy and external adjustment: New evidence

Bouakez, Hafedh; Chihi, Foued; Normandin, Michel - In: Journal of International Money and Finance 40 (2014) C, pp. 1-20

Relatively little empirical evidence exists about countries' external adjustment to changes in fiscal policy and, in particular, to changes in taxes. This paper addresses this question by measuring the effects of tax and government spending shocks on the current account and the real exchange...

Persistent link: https://www.econbiz.de/10010719325

Macroeconomic effects of fiscal policy changes: A case of South Africa

Akanbi, Olusegun Ayodele - In: Economic Modelling 35 (2013) C, pp. 771-785

This study develops comprehensive full-sector macro-econometric models for the South African economy with the aim of explaining and providing the macroeconomic effects of fiscal policy changes in the country. The models are applied to test the effectiveness of fiscal policy actions in an...

Persistent link: https://www.econbiz.de/10010719385

What are the Effects of Fiscal Policy Shocks?

Uhlig, Harald; Mountford, Andrew - 2008

Persistent link: https://www.econbiz.de/10014118576

Leaning into the Wind : A Structural VAR Investigation of UK Monetary Policy

Mountford, Andrew - 2005

We investigate the effects of UK monetary policy from 1974-2001 using a structural vector autoregression with quarterly data. We adapt Uhlig's (2001) sign restriction identification methodology and show that shocks which can reasonably be described as monetary policy shocks have played a very...

Persistent link: https://www.econbiz.de/10014105779

La Dinamica Del Debito Pubblico in Italia : Un’Analisi Empirica (1958-2013) The Dynamics Of Public Debt in Italy: An Empirical Analysis (1958-2013)

Magazzino, Cosimo - 2016

debt/GDP and its macroeconomic determinants (such as primary balance/GDP, real GDP, the inflation rate and the average … the interest rate. In contrast, the influence of public debt on growth rate emerges only marginally. Further tests have …, however, highlighted a significant influence of public debt on the extent of primary balance, but also a non-negligible effect …

Persistent link: https://www.econbiz.de/10012998657

Controversies Surrounding the Size of the Public Budget

Dobrescu, Emilian - 2017

This paper examines two potential positions in the debate over public budget size. Notably, the indicator used is inherently unstable, and shifting opinions regarding the public budget's size might be a psycho-social mirror of real-world volatility itself. However, this indicator may be...

Persistent link: https://www.econbiz.de/10012962998