inflation from its trend, implying that the more demand-driven a recession, the higher the multiplier. Median multipliers range …

multiplier is sensitive to the assumption of orthogonality between total factor productivity (non-fiscal proxy) and tax shocks …. If this correlation is assumed to be zero, the tax multiplier is found to be around one. If such correlation is non …-zero, as supported by our empirical evidence, we find a tax multiplier three times as large. Second, we find the spending …

impact inflation, little crowding out of private expenditure exists, and the multiplier tends to be larger compared to a one …

between multiplier size and the import share. Employing an interacted panel VAR model for EU countries, we estimate the effect …

We estimate the fiscal multiplier associated with shocks to government spending. We consider increases in government … is reflected in the value taken by the fiscal multiplier. This result is obtained when we identify fiscal shocks by the …

, the expenditure associated with military build-ups affects primarily the defense sector so that the resulting multiplier … powerful instrument for identifying government spending shocks. Furthermore, we show that the multiplier pertaining to non …-defense government spending is higher than the defense-spending multiplier estimated in the literature using military build-ups. …

inflation from its trend, implying that the more demand-driven a recession, the higher the multiplier. Median multipliers range …

effect on total GDP. In this setup the spending multiplier shows large long-run effects, considerably stronger than those …