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Fiscal Multipliers and the State of the Economy / / Anja Baum, Marcos Poplawski Ribeiro, Anke Weber



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Autore: Baum Anja Visualizza persona
Titolo: Fiscal Multipliers and the State of the Economy / / Anja Baum, Marcos Poplawski Ribeiro, Anke Weber Visualizza cluster
Pubblicazione: Washington, D.C. : , : International Monetary Fund, , 2012
Descrizione fisica: 1 online resource (32 p.)
Soggetto topico: 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
Soggetto geografico: United States
Altri autori: Poplawski RibeiroMarcos  
WeberAnke  
Note generali: Description based upon print version of record.
Nota di bibliografia: Includes bibliographical references.
Nota di contenuto: 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
Sommario/riassunto: 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.
Titolo autorizzato: Fiscal Multipliers and the State of the Economy  Visualizza cluster
ISBN: 1-4755-8800-3
1-4755-2392-0
Formato: Materiale a stampa
Livello bibliografico Monografia
Lingua di pubblicazione: Inglese
Record Nr.: 9910779643303321
Lo trovi qui: Univ. Federico II
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Serie: IMF Working Papers; Working Paper ; ; No. 2012/286