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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
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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/10010281787
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Government spending multipliers under the zero lower bound: Evidence from Japan
Miyamoto, Wataru; Nguyen, Thuy Lan; Sergeyev, Dmitriy - 2017
multiplier is 1.5 in the ZLB period, and 0.6 outside of it. We estimate that government spending shocks increase both private …
Persistent link: https://www.econbiz.de/10012014448
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Labour market and fiscal policy
Charpe, Matthieu; Bridji, Slim - 2012
the fiscal multiplier increases with the elasticity of matching to spending and is also negatively related with the steady … state spending to GDP ratio in the presence of diminishing marginal returns on spending. For large value of the multiplier …
Persistent link: https://www.econbiz.de/10010316798
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Fiscal Transparency and Procyclical Fiscal Policy
Andersen, Asger Lau; Holbøll Westh Nielsen, Lasse - 2010
This paper examines why fiscal policy is procyclical in developing as well as developed countries. We introduce the concept of fiscal transparency into a model of retrospective voting, in which a political agency problem between voters and politicians generates a procyclical bias in government...
Persistent link: https://www.econbiz.de/10010321001
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The effects of fiscal policy in a small open economy with a fixed exchange rate: The case of Denmark
Ravn, Søren Hove; Spange, Morten - 2012
government spending multiplier of 1.3 on impact in our preferred specification. Denmark's fixed exchange rate implies that the … effect on output becoming insignificant after around a year. The fiscal multiplier is above 1 only in the first quarter, and … drops to 0.6 one year after the shock. We further demonstrate that the fiscal multiplier is far from constant over time …
Persistent link: https://www.econbiz.de/10010321199
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Keynesian government spending multipliers and spillovers in the Euro area
Cwik, Tobias J.; Wieland, Volker - 2009
measures emphasize that government spending can stimulate additional private spending the so-called Keynesian multiplier effect …, when stimulus is most needed, may even be negative. Traditional Keynesian multiplier effects only arise in a model that …
Persistent link: https://www.econbiz.de/10010303706
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Keynesian government spending multipliers and spillovers in the euro area
Cwik, Tobias; Wieland, Volker - 2010
measures emphasize that government spending can stimulate additional private spending — the Keynesian multiplier effect. Thus …
Persistent link: https://www.econbiz.de/10011605313
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Understanding the effects of government spending on consumption
Galí, Jordi; Vallés, Javier; Wolman, Alexander L. - 2003
Recent evidence on the effect of government spending shocks on consumption cannot be easily reconciled with existing optimizing business cycle models. We extend the standard New Keynesian model to allow for the presence of rule-of-thumb (non-Ricardian) consumers. We show how the interaction of...
Persistent link: https://www.econbiz.de/10010298292
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Government expenditures and unemployment: A DSGE perspective
Mayer, Eric; Moyen, Stéphane; Stähler, Nikolai - 2010
's parameters, we find that the size of the fiscal (unemployment) multiplier increases with i) highly sticky prices, ii) high …
Persistent link: https://www.econbiz.de/10010301351