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Record Nr. |
UNINA9910779643303321 |
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Autore |
Baum Anja |
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Titolo |
Fiscal Multipliers and the State of the Economy / / Anja Baum, Marcos Poplawski Ribeiro, Anke Weber |
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Pubbl/distr/stampa |
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Washington, D.C. : , : International Monetary Fund, , 2012 |
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ISBN |
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1-4755-8800-3 |
1-4755-2392-0 |
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Descrizione fisica |
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1 online resource (32 p.) |
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Collana |
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Altri autori (Persone) |
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Poplawski RibeiroMarcos |
WeberAnke |
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Soggetti |
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Multiplier (Economics) |
Fiscal policy - Developed countries |
Macroeconomics |
Public Finance |
Production and Operations Management |
Business Fluctuations |
Cycles |
Fiscal Policy |
Quantitative Policy Modeling |
Macroeconomics: Production |
National Government Expenditures and Related Policies: General |
Public finance & taxation |
Output gap |
Fiscal multipliers |
Fiscal consolidation |
Fiscal policy |
Expenditure |
Production |
Economic theory |
Expenditures, Public |
United States |
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Lingua di pubblicazione |
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Formato |
Materiale a stampa |
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Livello bibliografico |
Monografia |
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Note generali |
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Description based upon print version of record. |
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Nota di bibliografia |
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Includes bibliographical references. |
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Nota di contenuto |
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Cover; Contents; I. Introduction; II. Background and Literature Review; A. What are Fiscal Multipliers and How Large are They?; B. Do Multipliers Differ in Downturns and Expansions?; Figures; 1. Country Characteristics and Multipliers; III. Data and Methodology; A. Data Sources and Description; Tables; 1. Cumulative Fiscal Multiplier Estimates from Selected Non-Linear Approaches; B. Threshold VAR Methodology; C. Impulse Response Functions; IV. Results; A. Country-by-Country Results; 2. G7 Selected Countries: Descriptive Statistics, 1965Q2-2011Q2 |
3. G7 Selected Countries: Threshold Estimation, 1965Q2-2011Q22. Cumulative Fiscal Multipliers: Fiscal Expansion; 3. Cumulative Fiscal Multipliers: Fiscal Contraction; B. Average of G7 Economies; C. Discussion and Caveats; 4. Fiscal Multipliers in G7 Economies; D. Policy Implications: Up-front versus Gradual Implementation; 5. G7 Economies: Cumulative Impact on Output from a Negative Discretionary Fiscal Spending Shock; V. Conclusions; A. Data Sources and Description; Appendix; B. Cumulative Generalized Impulse Response Functions and Confidential Intervals |
C. Using Output Growth as the Threshold VariableReferences |
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Sommario/riassunto |
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Only a few empirical studies have analyzed the relationship between fiscal multipliers and the underlying state of the economy. This paper investigates this link on a country-by-country basis for the G7 economies (excluding Italy). Our results show that fiscal multipliers differ across countries, calling for a tailored use of fiscal policy. Moreover, the position in the business cycle affects the impact of fiscal policy on output: on average, government spending, and revenue multipliers tend to be larger in downturns than in expansions. This asymmetry has implications for the choice between an upfront fiscal adjustment versus a more gradual approach. |
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