LEADER 05185oam 22010814 450 001 9910816616703321 005 20200520144314.0 010 $a1-4755-8800-3 010 $a1-4755-2392-0 035 $a(CKB)2550000001041552 035 $a(EBL)1607092 035 $a(SSID)ssj0000953147 035 $a(PQKBManifestationID)11504683 035 $a(PQKBTitleCode)TC0000953147 035 $a(PQKBWorkID)10907000 035 $a(PQKB)11423924 035 $a(Au-PeEL)EBL1607092 035 $a(CaPaEBR)ebr10661243 035 $a(OCoLC)821064563 035 $a(IMF)WPIEE2012286 035 $a(IMF)WPIEA2012286 035 $a(MiAaPQ)EBC1607092 035 $a(EXLCZ)992550000001041552 100 $a20020129d2012 uf 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aFiscal Multipliers and the State of the Economy /$fAnja Baum, Marcos Poplawski Ribeiro, Anke Weber 205 $a1st ed. 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2012. 215 $a1 online resource (32 p.) 225 1 $aIMF Working Papers 300 $aDescription based upon print version of record. 311 $a1-58906-389-9 311 $a1-4755-6582-8 320 $aIncludes bibliographical references. 327 $aCover; 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 327 $a3. 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 327 $aC. Using Output Growth as the Threshold VariableReferences 330 3 $aOnly a few empirical studies have analyzed the relationship between fiscal multipliers and the underlying state of the economy. This paper investigates this link on a country-by-country basis for the G7 economies (excluding Italy). Our results show that fiscal multipliers differ across countries, calling for a tailored use of fiscal policy. Moreover, the position in the business cycle affects the impact of fiscal policy on output: on average, government spending, and revenue multipliers tend to be larger in downturns than in expansions. This asymmetry has implications for the choice between an upfront fiscal adjustment versus a more gradual approach. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2012/286 606 $aMultiplier (Economics) 606 $aFiscal policy$zDeveloped countries 606 $aBusiness Fluctuations$2imf 606 $aCycles$2imf 606 $aEconomic theory$2imf 606 $aExpenditure$2imf 606 $aExpenditures, Public$2imf 606 $aFiscal consolidation$2imf 606 $aFiscal multipliers$2imf 606 $aFiscal Policy$2imf 606 $aFiscal policy$2imf 606 $aMacroeconomics$2imf 606 $aMacroeconomics: Production$2imf 606 $aNational Government Expenditures and Related Policies: General$2imf 606 $aOutput gap$2imf 606 $aProduction and Operations Management$2imf 606 $aProduction$2imf 606 $aPublic finance & taxation$2imf 606 $aPublic Finance$2imf 606 $aQuantitative Policy Modeling$2imf 607 $aUnited States$2imf 615 0$aMultiplier (Economics) 615 0$aFiscal policy 615 7$aBusiness Fluctuations 615 7$aCycles 615 7$aEconomic theory 615 7$aExpenditure 615 7$aExpenditures, Public 615 7$aFiscal consolidation 615 7$aFiscal multipliers 615 7$aFiscal Policy 615 7$aFiscal policy 615 7$aMacroeconomics 615 7$aMacroeconomics: Production 615 7$aNational Government Expenditures and Related Policies: General 615 7$aOutput gap 615 7$aProduction and Operations Management 615 7$aProduction 615 7$aPublic finance & taxation 615 7$aPublic Finance 615 7$aQuantitative Policy Modeling 676 $a332.1/52 700 $aBaum$b Anja$01770391 701 $aPoplawski Ribeiro$b Marcos$01770392 701 $aWeber$b Anke$01063702 801 0$bDcWaIMF 906 $aBOOK 912 $a9910816616703321 996 $aFiscal Multipliers and the State of the Economy$94250887 997 $aUNINA