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Credit and fiscal multipliers in China /
We jointly estimate credit and fiscal multipliers in China. We use the tenure of the provincial party secretary, interacted with the type of stimulus used in other provinces, to obtain separate instruments for provincial credit and government expenditure. We estimate a fiscal multiplier of 0.8 and a...
| Clasificación: | Libro Electrónico |
|---|---|
| Autores principales: | , , |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
[Washington, D.C.] :
International Monetary Fund,
[2017]
|
| Colección: | IMF working paper ;
WP/17/273. |
| Temas: | |
| Acceso en línea: | Texto completo |
MARC
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| 100 | 1 | |a Chen, Sophia, |d 1980- |e author. | |
| 245 | 1 | 0 | |a Credit and fiscal multipliers in China / |c by Sophia Chen, Lev Ratnovski, and Pi-Han Tsai. |
| 264 | 1 | |a [Washington, D.C.] : |b International Monetary Fund, |c [2017] | |
| 264 | 4 | |c ©2017 | |
| 300 | |a 1 online resource (27 pages) | ||
| 336 | |a text |b txt |2 rdacontent | ||
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| 338 | |a online resource |b cr |2 rdacarrier | ||
| 490 | 1 | |a IMF Working Paper ; |v WP/17/273 | |
| 505 | 0 | |a Cover; Contents; I. Introduction; II. Data and method; III. Results; A. Credit and fiscal multipliers; B. Robustness; C. Industry composition; D. Discussion on â#x80;#x9C;open economy multipliersâ#x80;#x9D;; IV. Conclusion; Figure; Figure 1. The correlation of bank loans and TSF growth; Figure 2. Appointments of provincial party secretaries; Figure 3. Credit and expenditure growth over the tenure of provincial party secretaries; Figure 4. Sensitivity to other provincesâ#x80;#x99; stimulus policies over the tenure of provincial secretaries; Table; Table 1. Summary statistics. | |
| 505 | 8 | |a Table 2. Appointments of party secretaries and provincial economic conditionsTable 3. Full sample results; Table 4. Early and late subsamples results; Table 5. Weighted results; Table 6. Sectoral multipliers; References. | |
| 520 | 3 | |a We jointly estimate credit and fiscal multipliers in China. We use the tenure of the provincial party secretary, interacted with the type of stimulus used in other provinces, to obtain separate instruments for provincial credit and government expenditure. We estimate a fiscal multiplier of 0.8 and a credit multiplier of 0.2 in 2001-2015. The multipliers have changed over time. The fiscal multiplier has increased from 0.75 in 2001-2008 to 1.4 in 2010-2015. The credit multiplier has declined from 0.17 to zero over the same periods. Our results suggest that reducing credit growth in China is unlikely to disrupt output growth, whereas fiscal policy may be effective in supporting macroeconomic adjustment. | |
| 588 | 0 | |a Print version record. | |
| 590 | |a eBooks on EBSCOhost |b EBSCO eBook Subscription Academic Collection - Worldwide | ||
| 650 | 0 | |a Credit |z China. | |
| 650 | 0 | |a Fiscal policy |z China |x Econometric models. | |
| 651 | 0 | |a China |x Economic conditions |x Econometric models. | |
| 650 | 6 | |a Crédit |z Chine. | |
| 650 | 6 | |a Politique fiscale |z Chine |x Modèles économétriques. | |
| 651 | 6 | |a Chine |x Conditions économiques |x Modèles économétriques. | |
| 650 | 7 | |a BUSINESS & ECONOMICS |x Finance. |2 bisacsh | |
| 650 | 7 | |a Credit. |2 fast |0 (OCoLC)fst00882525 | |
| 650 | 7 | |a Economic history. |2 fast |0 (OCoLC)fst00901974 | |
| 650 | 7 | |a Fiscal policy |x Econometric models. |2 fast |0 (OCoLC)fst00925810 | |
| 651 | 7 | |a China. |2 fast |0 (OCoLC)fst01206073 | |
| 700 | 1 | |a Ratnovski, Lev, |e author. | |
| 700 | 1 | |a Tsai, Pi-Han, |e author. | |
| 776 | 0 | 8 | |i Print version: |a Chen, Sophia. |t Credit and Fiscal Multipliers in China. |d Washington, D.C. : International Monetary Fund, ©2017 |z 9781484332160 |
| 830 | 0 | |a IMF working paper ; |v WP/17/273. | |
| 856 | 4 | 0 | |u https://ebsco.uam.elogim.com/login.aspx?direct=true&scope=site&db=nlebk&AN=1687292 |z Texto completo |
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