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Changing Patterns of Domestic and Cross-Border Fiscal Policy Multipliers in Europe and the US

Bénassy-Quéré, Agnès - 2007

This paper documents time variation in domestic fiscal policy multipliers in Germany, the UK and the US, and in cross-border fiscal spillovers from Germany to the seven largest European Union economies. We propose two VAR models which incorporate three quot;global factorsquot; representing...

Persistent link: https://www.econbiz.de/10012730000

Tax Reforms and Fiscal Shock Smoothing

Amaglobeli, David - 2019

This paper examines the role of tax policy reforms in enhancing fiscal shock smoothing in a panel of 13 OECD economies … magnitude of shock smoothing increases from an average of 2 percent to 3-31/2 percent following the reform. The effects are … symmetric-that is, the increase in shock smoothing following a reform expanding the tax base (rate) is similar to the decline in …

Persistent link: https://www.econbiz.de/10012868266

Macroeconomic Effects of Sovereign Restructuring in a Monetary Union : A Model-Based Approach

Forni, Lorenzo - 2014

We assess the macroeconomic effects of a sovereign restructuring in a small economy belonging to a monetary union by simulating a dynamic general equilibrium model. In line with the empirical evidence, we make the following three key assumptions. First, sovereign debt is held by domestic agents...

Persistent link: https://www.econbiz.de/10013059858

The Macroeconomic Effects of Exogenous Fiscal Policy Shocks in Germany : A Disaggregated SVAR Analysis

Wolff, Guntram B. - 2016

Persistent link: https://www.econbiz.de/10012991162

Fiscal Policy Shocks and Private Consumption in Nigeria : Blanchard-Perotti (2002) Approach

Oseni, Isiaq Olasunkanmi - 2018

significant in the period following the shock. Also, positive tax shocks have a negative effect on private consumption in the … period of a shock and the effect becomes statistically insignificant afterwards. On this premises, one-off changes in …

Persistent link: https://www.econbiz.de/10012920977

The macroeconomic effects of government spending shocks in New Zealand

Lyu, Yifei - 2021

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

Do We Reject Restrictions Identifying Fiscal Shocks? Identification Based on non-Gaussian Innovations

Karamysheva, Madina; Skrobotov, Anton - 2021

This paper is devoted to fiscal shock identification based on the assumption of nonGaussianity of the errors, which can …

Persistent link: https://www.econbiz.de/10013243553

Exploring the Output Effect of Fiscal Policy Shocks in Low Income Countries

Honda, Jiro - 2020

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

The Economic Effects of Exogenous Fiscal Shocks in Spain : A SVAR Approach

de Cos, Pablo Hernández; Castro, Francisco de - 2021

This paper estimates the effects of exogenous fiscal policy shocks in Spain in a VAR framework. Government expenditure expansionary shocks are found to have positive effects on output in the short-term at the cost of higher inflation and public deficits and lower output in the medium and long...

Persistent link: https://www.econbiz.de/10013317569

Fiscal policy reaction to the cycle in the OECD : pro- or counter-cyclical?

Égert, Balázs - 2012

This paper analyses the reaction of fiscal policy to the cycle in OECD countries. The results suggest that while overall government balances were counter-cyclical in the past and more so in economic downturns than in upswings, discretionary fiscal policy was neutral on average. However,...

Persistent link: https://www.econbiz.de/10009518240