03669nam 2200625Ia 450 991045273550332120200520144314.01-4755-8800-31-4755-2392-0(CKB)2550000001041552(EBL)1607092(SSID)ssj0000953147(PQKBManifestationID)11504683(PQKBTitleCode)TC0000953147(PQKBWorkID)10907000(PQKB)11423924(MiAaPQ)EBC1607092(Au-PeEL)EBL1607092(CaPaEBR)ebr10661243(OCoLC)821064563(EXLCZ)99255000000104155220121213d2012 uy 0engur|n|---|||||txtccrFiscal multipliers and the state of the economy[electronic resource] /prepared by Anja Baum, Marcos Poplawski-Ribeiro, and Anke WeberWashington, D.C. International Monetary Fundc20121 online resource (32 p.)IMF working paper ;WP/12/286Description based upon print version of record.1-58906-389-9 1-4755-6582-8 Includes bibliographical references.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, 1965Q2-2011Q23. 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 IntervalsC. Using Output Growth as the Threshold VariableReferencesOnly 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 anIMF Working PapersMultiplier (Economics)Fiscal policyDeveloped countriesElectronic books.Multiplier (Economics)Fiscal policyBaum Anja1985-859446Ribeiro Marcos Poplawski1977-859447Weber Anke1981-859448MiAaPQMiAaPQMiAaPQBOOK9910452735503321Fiscal multipliers and the state of the economy1917999UNINA