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Fiscal multipliers in advanced and developing countries: Evidence from military spending

Sheremirov, Viacheslav; Spirovska, Sandra - 2019

Using novel data on military spending for 129 countries in the period 1988-2013, this paper provides new evidence on the effects of government spending on output in advanced and developing countries. Identifying government-spending shocks with an exogenous variation in military spending, we...

Persistent link: https://www.econbiz.de/10012059606

Fiscal policy in a growth framework

Gemmell, Norman - 2001

This paper assesses recent theorising and empirical evidence on the impact of fiscal policy—taxes, public expenditures and budget deficits—on long-run growth. It considers the relevance of recent advances in growth theory for low-income countries and compares the evidence for low-income...

Persistent link: https://www.econbiz.de/10010279253

International portfolio rebalancing and fiscal policy spillovers

Alpanda, Sami; Aysun, Uluc; Kabaca, Serdar - 2023

We evaluate, both empirically and theoretically, the spillover effects that debt-financed fiscal policy interventions of the United States have on other economies. We first consider a two-country dynamic stochastic general equilibrium model with international portfolio rebalancing effects...

Persistent link: https://www.econbiz.de/10014544594

Domestic cycles, financial cycles, and policies: What has gone wrong?

Daianu, Daniel - 2017

The financial crisis and its ensuing effects have brought back into the limelight the issue of cycles and of policies which fuel or mitigate crises. Cognitive and operational models in economics and business are questioned. There is a specter of much lower economic growth in the industrialized...

Persistent link: https://www.econbiz.de/10012056988

Convex supply curves

Boehm, Christoph E.; Pandalai-Nayar, Nitya - 2020

We provide evidence that industries' supply curves are convex. To guide our empirical analysis, we develop a model, in which capacity constraints at the plant level generate convex supply curves at the industry level. The industry's capacity utilization rate is a sufficient statistic for the...

Persistent link: https://www.econbiz.de/10012422122

International spillover effects of U.S. tax reforms: Evidence from Germany

Christofzik, Désirée I.; Elstner, Steffen - 2018

This paper explores the international transmission of U.S. tax shocks and provides evidence for the German economy. Using structural vector autoregressions, we find that after a U.S. tax cut, German GDP increases moderately. While higher U.S. demand stimulates German exports, a deterioration of...

Persistent link: https://www.econbiz.de/10011929058

Fiscal spillovers: The case of US corporate and personal income taxes

Hanson, Madeline; Hauser, Daniela; Priftis, Romanos - 2021

This paper extends the identification of unanticipated changes in average federal corporate and personal income tax rates in the United States, as proposed in Mertens and Ravn (2013), to the end of 2019, and assesses their propagation to economies with tight links to the US economy. While cuts...

Persistent link: https://www.econbiz.de/10012695571

Output response to government spending: Evidence from new international military spending data

Sheremirov, Viacheslav; Spirovska, Sandra - 2015

in the previous literature based on U.S. data - we find that the pooled government spending multiplier is small: below 0 ….2. This estimate, however, masks substantial heterogeneity: the debtfinanced spending multiplier is larger and can be well … above 1 if monetary policy is accommodative. The multiplier is especially large in recessions and when the government …

Persistent link: https://www.econbiz.de/10011460696

Growth Effects of Government Expenditure and Taxation in Rich Countries

Fölster, Stefan; Henrekson, Magnus - 1998

A number of cross-country comparisons do not find a robust negative relationship between government size and economic growth. In part this may reflect the prediction in economic theory that a negative relationship should exist primarily for rich countries with large public sectors. In this paper...

Persistent link: https://www.econbiz.de/10010335009

On fiscal multipliers: Estimates from a medium scale DSGE model

Zubairy, Sarah - 2010

government spending shocks, using Bayesian techniques for US data. I find the multiplier for government spending to be 1.12, and …

Persistent link: https://www.econbiz.de/10010279882