Results 21 to 30 of about 61,206 (353)
Mises, 2023 The Keynesian expenditure multiplier is commonly viewed as a mechanism that amplifies expansionary fiscal or monetary policy. Once the assumptions on which the multiplier rests are applied to the classical quantity equation, however, it becomes obvious ...
Eduard Braun
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Fiscal multipliers in the 21st century [PDF]
Journal of Monetary Economics, 2014 Fiscal multipliers appear to vary greatly over time and space. Based on VARs for a large number of countries, we document a strong correlation between wealth inequality and the magnitude of fiscal multipliers. In an attempt to account for this finding, we develop a life-cycle, overlapping-generations economy with uninsurable labor market risk.
Per Krusell +3 more
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Fiscal multipliers: A heterogenous‐agent perspective [PDF]
Quantitative Economics, 2021 We use an analytically tractable heterogeneous‐agent (HANK) version of the standard New Keynesian model to show how the size of fiscal multipliers depends on (i) the distribution of factor incomes, and (ii) the source of nominal rigidities. With sticky prices but flexible wages, the standard representative‐agent (RANK) model predicts large multipliers ...
Broer, Tobias +2 more
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Determinants of fiscal multipliers revisited [PDF]
Journal of Macroeconomics, 2020 Abstract We generalize a simple New Keynesian model and show that a flattening of the Phillips curve reduces the size of fiscal multipliers at the zero lower bound (ZLB) on the nominal interest rate. The factors behind the flatting are consistent with micro- and macroeconomic empirical evidence: it is a result of, not a higher level of price rigidity,
Horvath, Roman +3 more
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Fiscal policy transmission mechanism in Pakistan: A general equilibrium analysis
Business Review, 2020 This paper explores the impact of fiscal spending on key macroeconomic indicators for Pakistan economy using an estimated open economy new Keynesian dynamic stochastic general equilibrium (DSGE) model.
Muhammad Raashid +2 more
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Do Fiscal Multipliers Depend on Fiscal Positions? [PDF]
SSRN Electronic Journal, 2016 This paper analyzes the relationship between fiscal multipliers and fiscal positions of governments using an Interactive Panel Vector Auto Regression model and a large data-set of advanced and developing economies. The methodology permits tracing the endogenous relationship between fiscal multipliers and fiscal positions while maintaining enough ...
Huidrom, Raju +3 more
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Discrete Dynamics in Nature and Society, 2022 The proportion of fiscal revenue in GDP and the multiplier of fiscal expenditure are important economic benefit indicators in the framework of a common index system for budget performance evaluation.
Jianhui Zhang
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Financial Fragility and the Fiscal Multiplier [PDF]
Journal of Money, Credit and Banking, 2017 AbstractWe show that undercapitalized banks with large holdings of government bonds subject to sovereign default risk lead to a new crowding‐out channel: deficit‐financed fiscal stimuli lead to higher bond yields, triggering capital losses for the banks. Banks then cut back loans, which reduces fiscal multipliers.
van Wijnbergen, S., van der Kwaak, C.
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Fiscal Multipliers in a Panel of Countries [PDF]
SSRN Electronic Journal, 2014 We estimate fiscal multipliers in a panel of countries using dynamic panel techniques and quarterly data for 55 countries. By using a GMM estimator and lagged dependent variables as instruments in a SVAR model, we attempt to correct for the biases present in this setting, to alleviate concerns about causality, and to decrease potential effects of third
Juan Contreras, Holly Battelle
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We just estimated twenty million fiscal multipliers [PDF]
, 2020 We analyse the role played by data and specification choices as determinants of the size ofthe fiscal multipliers obtained using structural vector autoregressive models.
Crespo Cuaresma, Jesus, Čapek, Jan
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