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Fiscal multipliers and the state of the economy /

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, ca...

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Detalles Bibliográficos
Clasificación:Libro Electrónico
Autor principal: Baum, Anja, 1985-
Autor Corporativo: International Monetary Fund
Otros Autores: Ribeiro, Marcos Poplawski, 1977-, Weber, Anke, 1981-
Formato: Electrónico eBook
Idioma:Inglés
Publicado: [Washington, D.C.] : International Monetary Fund, ©2012.
Colección:IMF working paper ; WP/12/286.
Temas:
Acceso en línea:Texto completo

MARC

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100 1 |a Baum, Anja,  |d 1985- 
245 1 0 |a Fiscal multipliers and the state of the economy /  |c prepared by Anja Baum, Marcos Poplawski-Ribeiro, and Anke Weber. 
260 |a [Washington, D.C.] :  |b International Monetary Fund,  |c ©2012. 
300 |a 1 online resource (31 pages) 
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490 1 |a IMF working paper ;  |v WP/12/286 
500 |a Title from PDF title page (IMF Web site, viewed December 6, 2012). 
520 |a 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. 
504 |a Includes bibliographical references. 
500 |a "Fiscal Affairs Department." 
500 |a "December 2012." 
505 0 |a 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. 
505 8 |a 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. 
546 |a English. 
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650 0 |a Fiscal policy  |z Developed countries. 
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700 1 |a Ribeiro, Marcos Poplawski,  |d 1977- 
700 1 |a Weber, Anke,  |d 1981- 
710 2 |a International Monetary Fund. 
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