Title Assessing the impact of fiscal shocks on output In MENAP countries / prepared by Martin Cerisola [and 3 others]

Published Washington, D.C. : International Monetary Fund, [2015]

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Description 1 online resource (31 pages) : color illustrations Series Technical notes and manuals ; TNM/15/01 Technical notes and manuals ; 15/01. Summary This note is a reference guide to the econometric work on fiscal multipliers for MENAP countries. Spending and tax multipliers are estimated from conventional VAR models and identified using a sign-restrictions approach. Estimates show that fiscal multipliers tend to be small, except for those associated with government investment spending, which generally exceed unity. For the average MENAP country, fiscal multipliers for current spending, government consumption and government investment spending are 0.5, 0.8, and 1.1,respectively, while the tax revenues multiplier is estimated at around --0.4. There is also significant variation in the size of these multipliers across countries, consistent with differences in economic fundamentals, such as openness to trade and the flexibility of the exchange rate. The estimated multipliers are generally consistent with theoretical priors, and are in line with the evidence from the literature for other economies and categories of spending and taxes Notes "Prepared by Martin Cerisola, Chadi Abdallah, Victor Davies, and Mark Fischer." "Middle East and Central Asia Department." "January 2015"--Page 2 of pdf Bibliography Includes bibliographical references (pages 27-28) Notes Online resource; title from pdf title page (IMF Web site, viewed March 24, 2015) Subject Fiscal policy -- Middle East National income -- Middle East Fiscal policy -- Africa, North National income -- Africa, North Fiscal policy -- Pakistan National income -- Pakistan Expenditures, Public. Expenditures, Public. Fiscal policy. National income. North Africa. Middle East. Pakistan. Form Electronic book Author Cerisola, Martin. International Monetary Fund. Middle East and Central Asia Department. ISBN 149837087X 9781498370875 1475519885 9781475519884

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