| Description |
1 online resource (31 pages) |
| Series |
IMF working paper ; WP/12/286 |
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IMF working paper ; WP/12/286.
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| Contents |
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 |
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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 |
| Summary |
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 |
| Notes |
Title from PDF title page (IMF Web site, viewed December 6, 2012) |
| Bibliography |
Includes bibliographical references |
| Notes |
"Fiscal Affairs Department." |
|
"December 2012." |
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English |
| Subject |
Multiplier (Economics)
|
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Fiscal policy -- Developed countries
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BUSINESS & ECONOMICS -- Industries -- General.
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Fiscal policy
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Multiplier (Economics)
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Developed countries
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| Form |
Electronic book
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| Author |
Ribeiro, Marcos Poplawski, 1977-
|
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Weber, Anke, 1981-
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International Monetary Fund.
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| ISBN |
9781589063891 |
|
1589063899 |
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1475523920 |
|
9781475523928 |
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1475565828 |
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9781475565829 |
|
1475588003 |
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9781475588002 |
|
