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size of fiscal multipliers in Turkey over the period 2002:q3-2016:q2. In contrast to many previous papers that concentrate … findings corroborate the idea that a shock to government spending creates a (weak) Keynesian effect on GDP in the short run …, while a shock to taxes brings about a non-Keynesian effect. …
Persistent link: https://www.econbiz.de/10011670351
The paper describes the main transmission channels of the spillovers of national fiscal policies to other countries within the euro area and investigates their magnitude using different models. In the context of Economic and Monetary Union (EMU), fiscal spillovers are relevant for the accurate...
Persistent link: https://www.econbiz.de/10012206331
short term debt financed government spending shock makes it easier for constrained households to meet their spending needs …
Persistent link: https://www.econbiz.de/10013443719
due to a fiscal policy shock, as compared to when the rise in output is due to a positive technology shock. The cross ….75 when the rise in output follows from a favorable output shock. …
Persistent link: https://www.econbiz.de/10011956353
What do we know about the output effects of fiscal policy in low income countries (LICs)? There are very few empirical studies on the subject. This paper fills this gap by estimating the output effects of government spending shocks in LICs. Our analysis-based on the local projection method-finds...
Persistent link: https://www.econbiz.de/10012831612
factorization of innovations. Impulse-response functions aiming to estimate the response of government expenditures to the shock …
Persistent link: https://www.econbiz.de/10013256485
This paper employs tests for Granger-Sims causality and a four-variable vector-autoregression (VAR) to examine whether real government spending and real net taxes have any systematic effect on output purchased by the private sector. The paper finds no evidence of causality from government...
Persistent link: https://www.econbiz.de/10013150727
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
This paper estimates the macroeconomic effects of government spending shocks in New Zealand. Using a structural vector autoregression (SVAR) model, I find small output multipliers for government consumption but large multipliers for government investment. Importantly, the real exchange rate...
Persistent link: https://www.econbiz.de/10012548884
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