LEADER 03817nam 2200661Ia 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 $a20121213d2012 uy 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aFiscal multipliers and the state of the economy /$fprepared by Anja Baum, Marcos Poplawski-Ribeiro, and Anke Weber 205 $a1st ed. 210 $aWashington, D.C. $cInternational Monetary Fund$dc2012 215 $a1 online resource (32 p.) 225 0 $aIMF working paper ;$vWP/12/286 300 $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 615 0$aMultiplier (Economics) 615 0$aFiscal policy 676 $a332.1/52 700 $aBaum$b Anja$f1985-$01758359 701 $aRibeiro$b Marcos Poplawski$f1977-$01758360 701 $aWeber$b Anke$f1981-$01756962 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910816616703321 996 $aFiscal multipliers and the state of the economy$94196554 997 $aUNINA