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Fiscal Multipliers of Central, State and Local Government and of the Social Security Funds in Germany : Evidence of a SVAR

Hollmayr, Josef - 2019

By applying a Structural Vector Autoregressive (SVAR) approach this paper estimates the effects of fiscal policy shocks of different government sub-sectors on aggregate GDP in Germany. From a general government perspective, the results show that besides investment, it is particularly changes in...

Persistent link: https://www.econbiz.de/10012898124

Jobs Multipliers : Evidence from a Large Fiscal Stimulus in Spain

Alloza, Mario - 2019

the multiplier falls in the lower range of previous work …

Persistent link: https://www.econbiz.de/10012867678

The Fiscal Multiplier in Small Open Economy : The Role of Liquidity Frictions

Sin, Jasmin - 2016

This paper studies the fiscal multiplier using a small-open-economy DSGE model enriched with financial frictions. It … shows that the multiplier is large when frictions are present in domestic and international financial markets. The reason is … ignore the presence of frictions in international capital markets tend to underestimate the fiscal multiplier …

Persistent link: https://www.econbiz.de/10012977827

Decomposing Local Fiscal Multipliers : Evidence from Japan

Kameda, Taisuke - 2019

accounts. We estimate the local fiscal multiplier on output to be 1.7 at the regional level. The regional fiscal multiplier … and small in size. We decompose the regional fiscal multiplier on output into multipliers on expenditure components. The … regional fiscal multiplier on absorption exceeds 2.0 because of the crowding-in effect on consumption and investment. Moreover …

Persistent link: https://www.econbiz.de/10012860964

Fiscal Stimulus and Labor Market Flexibility

Topal, Pinar - 2014

This paper investigates whether a fiscal stimulus implies a different impact for flexible and rigid labour markets. The analysis is done for 11 advanced OECD economies. Using quarterly data from 1999 to 2013, I estimate a panel threshold structural VAR model in which regime switches are...

Persistent link: https://www.econbiz.de/10013043360

Revisiting the Narrative Approach of Estimating Tax Multipliers

Hebous, Shafik - 2014

A number of recent studies regress a “narratively” identified measure of a macroeconomic shock directly on an outcome variable. In this note, we argue that this approach can be viewed as the reduced-form regression of an instrumental variable approach in which the narrative time series is...

Persistent link: https://www.econbiz.de/10013044520

Expansionary and contractionary fiscal multipliers in the U.S.

Kapetanios, George; Koutroumpis, Panagiotis; Tsoukis, … - 2022

We estimate the fiscal (spending) multiplier using quarterly U.S. data, 1986-2017. We define government spending shocks …

Persistent link: https://www.econbiz.de/10013191269

Fiscal Multipliers and the Labour Market in the Open Economy

Faia, Ester - 2010

Several contributions have recently assessed the size of fiscal multipliers both in RBC models and New Keynesian models. None of the studies considers a model with frictional labour markets which is a crucial element, particularly at times in which much of the fiscal stimulus has been directed...

Persistent link: https://www.econbiz.de/10013146168

Decomposing local fiscal multipliers : evidence from Japan

Kameda, Taisuke; Namba, Ryoichi; Tsuruga, Takayuki - 2019 - This draft: October 2019

Persistent link: https://www.econbiz.de/10012109875

The macroeconomic effects of tax reform : evidence from the EU

Van Der Wielen, Wouter - 2019

-based consolidations resulted in a 1.2 percentage point larger medium-term output multiplier in absolute terms. …

Persistent link: https://www.econbiz.de/10012013129