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The euro area government spending multiplier in demand- and supply-driven recessions
Di Serio, Mario; Fragetta, Matteo; Gasteiger, Emanuel; … - 2022
We estimate government spending multipliers in demand- and supply-driven recessions for the Euro Area. Multipliers in a moderately demand-driven recession are 2-3 times larger than in a moderately supply-driven recession, with the difference between multipliers being non-zero with very high...
Persistent link: https://www.econbiz.de/10013174156
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Faster Fiscal Stimulus and a Higher Government Spending Multiplier in China : Mixed-Frequency Identification With SVAR
Li, Mingyang; Niu, Linlin - 2022
restriction for shock identification in a quarterly SVAR framework à la Blanchard and Perotti (2002). By relaxing the lag …-length restriction from one quarter to one month, we propose a mixed-frequency identification (MFI) strategy by taking the unexpected ….546 on impact and 1.849 at the maximum. A comparison study confirms that results based on the identification strategy of …
Persistent link: https://www.econbiz.de/10013323898
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Government spending multipliers in (un)certain times
Fritsche, Jan Philipp; Klein, Mathias; Rieth, Malte - 2020 - This version: September 15, 2020
We estimate the dynamic effects of government spending shocks, using time-varying volatility in US data modeled through a Markov switching process. We find that the average government spending multiplier is significantly and persistently above one, driven by a crowding-in of private consumption...
Persistent link: https://www.econbiz.de/10012289271
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Nontradable goods and fiscal multipliers
Crespo Cuaresma, Jesús; Glocker, Christian - 2020
We assess the role that nontradable goods play as a determinant of fiscal spending multipliers, making use of a two-sector model. While fiscal multipliers increase with the share of nontradable goods, an inverted U-shaped relationship exists between multiplier size and the import share....
Persistent link: https://www.econbiz.de/10012270412
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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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The euro area government spending multiplier in demand- and supply-driven recessions?
Di Serio, Mario; Fragetta, Matteo; Gasteiger, Emanuel; … - 2023
We estimate government spending multipliers in demand- and supply-driven recessions for the Euro Area. Multipliers in a moderately demand-driven recession are 2-3 times larger than in a moderately supply-driven recession, with the difference between multipliers being non-zero with very high...
Persistent link: https://www.econbiz.de/10014364021
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Production structure, tradability and fiscal spending multipliers
Crespo Cuaresma, Jesús; Glocker, Christian - 2023
We assess the role that nontradable goods play as a determinant of fiscal spending multipliers, making use of a two-sector model. While fiscal multipliers increase with the share of nontradable goods, an inverted U-shaped relationship exists between multiplier size and the import share....
Persistent link: https://www.econbiz.de/10014321510
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A comparison of the macroeconomic effects of increased defence spending in Poland and Germany
Krajewski, Piotr; Piłat, Katarzyna - In: Comparative economic research : Central and Eastern Europe 26 (2023) 4, pp. 27-44
The aim of the article is to quantify and compare the macroeconomic effects of defence spending in the Polish and German economies. Estimating these effects is of particular importance in the context of the substantial increase in defence expenditures in Poland and Germany resulting from the war...
Persistent link: https://www.econbiz.de/10014529543
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Identifying shocks via time-varying volatility
Lewis, Daniel J. - 2018
process. I propose a new identification argument that identifies the SVAR up to shock orderings using the autocovariance … select among shock orderings; this selection does not impact inference asymptotically. The identification scheme performs …
Persistent link: https://www.econbiz.de/10011926201
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Government spending shocks, sovereign risk and the exchange rate regime
Bonam, Dennis; Lukkezen, Jasper - 2013
Conventional wisdom teaches that the output response upon a fiscal expansion is higher under fixed than floating exchange rates for a small open economy. We analyse the effects of fiscal expansions using a New Keynesian model and find that this result reverses in times of sovereign default risk....
Persistent link: https://www.econbiz.de/10010227296