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Exploring the Output Effect of Fiscal Policy Shocks in Low Income Countries
Honda, Jiro - 2020
statistically significant output effect under floating exchange rate regimes. For the estimation of the output effects of fiscal …
Persistent link: https://www.econbiz.de/10012831612
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Non-linear e¤ects of government spending shocks in the US : evidence from state-level data
Mumtaz, Haroon; Sunder-Plassmann, Laura - 2017
This paper uses state-level data to estimate the effect of federal defense spending shocks on state real activity. We find moderately strong evidence that for the average state the fiscal multiplier is larger during recessions. However, there is substantial heterogeneity across the...
Persistent link: https://www.econbiz.de/10011773635
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Transmission of government spending shocks in the Euro area : time variation and driving forces
Kirchner, Markus; Cimadomo, Jacopo; Hauptmeier, Sebastian - 2010
This paper provides new evidence on the effects of government spending shocks and the fiscal transmission mechanism in the euro area for the period 1980-2008. Our contribution is two-fold. First, we investigate changes in the macroeconomic impact of government spending shocks using time-varying...
Persistent link: https://www.econbiz.de/10011380027
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The Effects of Fiscal Policy in Italy : Evidence from a VAR Model
Momigliano, Sandro - 2008
Quarterly Reports. The main results of the study can be summarized as follows. A shock to government purchases of goods and … services has a sizeable and robust effect on economic activity: an exogenous one per cent (in terms of private GDP) shock … the low persistence of the shock. The effects on employment, private consumption and investment are also positive. The …
Persistent link: https://www.econbiz.de/10012725077
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Uncertainty and non-linear macroeconomic effects of fiscal policy in the US : a SEIVAR-based analysis
Belke, Ansgar; Goemans, Pascal - 2019 - First draft: December 18, 2018, this draft: September 8, 2019
We investigate whether the macroeconomic effects of government spending shocks vary with the level of uncertainty. Using postwar US data and a Self-Exciting Interacted VAR (SEIVAR) model, we find that fiscal spending has positive output effects in tranquil times but is contractionary during...
Persistent link: https://www.econbiz.de/10012268062
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Uncertainty and non-linear macroeconomic effects of fiscal policy in the US : a SEIVAR-based analysis
Belke, Ansgar; Goemans, Pascal - 2019
We investigate whether the macroeconomic effects of government spending shocks vary with the level of uncertainty. Using postwar US data and a Self-Exciting Interacted VAR (SEIVAR) model, we find that fiscal spending has positive output effects in tranquil times but is contractionary during...
Persistent link: https://www.econbiz.de/10012116248
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The worst of both worlds : fiscal policy and fixed exchange rates
Born, Benjamin; D'Ascanio, Francesco; Müller, Gernot J.; … - 2019
Under fixed exchange rates, fiscal policy is an effective tool. According to classical views because it impacts the real exchange rate, according to Keynesian views because it impacts output. Both views have merit because the effects of government spending are asymmetric. A spending cut lowers...
Persistent link: https://www.econbiz.de/10012118599
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What are the Effects of Fiscal Policy Shocks? A VAR-based Comparative Analysis
Caldara, Dario - 2009
The empirical literature using vector autoregressive models to assess the effects of fiscal policy shocks strongly disagrees on even the qualitative response of key macroeconomic variables to government spending and tax shocks. We provide new evidence for the U.S. over the period 1955-2006. We...
Persistent link: https://www.econbiz.de/10012766572
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Estimation of government spending multiplier in EU economies
Senekovič, Marko; Kavkler, Alenka; Bekő, Jani - In: Naše gospodarstvo : NG 65 (2019) 1, pp. 16-29
The aim of this paper is to estimate government consumption multiplier and to examine the effect of various characteristics of countries on the size of fiscal multiplier. We apply a panel VAR model following Ilzetzki et al. (2013) for a sample of 28 EU countries covering the period from 1995 to...
Persistent link: https://www.econbiz.de/10012021817
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The Effects of Australia's Fiscal Policy Shocks – A VAR Approach
Son, Nguyen - 2012
on the recursive approach of Caldara and Kamps (2008). The estimation results suggest that (i) the government expenditure … shock has positively contributed to Australia's economic growth; (ii) the shock has also had positive effects on price …
Persistent link: https://www.econbiz.de/10013097912