autoregressions, we document a significant crowding-in of private investment and an output multiplier of roughly 2. Then, we match a … New Keynesian dynamic stochastic general equilibrium model to the empirical responses, and we decompose the multiplier … capacity in the medium run, and it generates demand effects along the production network. We find a similar multiplier in other …

In this article we show that the empirically measured multiplier effect of fiscal policy is significant for Germany in … contribute to the small multiplier effect. We demonstrate by means of a counterfactual analysis that the Keynesian multiplier … effect of government spending is 2.44, whilst the multiplier effect of tax revenues stands at -1.78 when leaving these …

endogenous model 36 1.3.4 Fiscal restrictions and estimation of the restricted models … series properties and estimation 77 2.5.3 Estimation results … 85 2.A Results of comprehensive estimation approach 85 2.B Additional plots of …

linear benchmark SVAR, the analysis finds that hiking spending yields a short-term fiscal multiplier of around 0.70, while … the fiscal multiplier resulting from an increase in taxes and social security contributions is -0.66. In addition, the …