The Effects of Fiscal Policy on Output: A DSGE Analysis
This paper examines the effects of fiscal policy on output in the euro area. For this purpose we develop a DSGE Fiscal Model with endogenous government bond yields to assess the impact of different fiscal policy shocks on output, its components and on government debt. The simulations suggest that fi...
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| Format: | Elektronisch E-Book |
| Sprache: | English |
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Paris
OECD Publishing
2010
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| Schriftenreihe: | OECD Economics Department Working Papers
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| Online-Zugang: | Volltext |
| Zusammenfassung: | This paper examines the effects of fiscal policy on output in the euro area. For this purpose we develop a DSGE Fiscal Model with endogenous government bond yields to assess the impact of different fiscal policy shocks on output, its components and on government debt. The simulations suggest that fiscal policy is effective in supporting activity, especially in the short term. In particular, the largest fiscal multipliers are found for an increase in public investment, public consumption and a cut in the wage tax. The results are robust to different parameter calibrations and are economically significant. Amongst the different structural parameters, the share of liquidity constrained households and price persistence are found to be the ones which affect the most fiscal multipliers |
| Beschreibung: | 1 Online-Ressource (35 Seiten) 21 x 29.7cm |
| DOI: | 10.1787/5kmfp4z3njg0-en |
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| spelling | Furceri, Davide Verfasser aut The Effects of Fiscal Policy on Output A DSGE Analysis Davide Furceri and Annabelle Mourougane = Les effets de la politique budgétaire sur la production : une analyse à partir d'un modèle DSGE / Davide Furceri et Annabelle Mourougane Les effets de la politique budgétaire sur la production Paris OECD Publishing 2010 1 Online-Ressource (35 Seiten) 21 x 29.7cm txt rdacontent c rdamedia cr rdacarrier OECD Economics Department Working Papers This paper examines the effects of fiscal policy on output in the euro area. For this purpose we develop a DSGE Fiscal Model with endogenous government bond yields to assess the impact of different fiscal policy shocks on output, its components and on government debt. The simulations suggest that fiscal policy is effective in supporting activity, especially in the short term. In particular, the largest fiscal multipliers are found for an increase in public investment, public consumption and a cut in the wage tax. The results are robust to different parameter calibrations and are economically significant. Amongst the different structural parameters, the share of liquidity constrained households and price persistence are found to be the ones which affect the most fiscal multipliers Economics Mourougane, Annabelle ctb https://doi.org/10.1787/5kmfp4z3njg0-en Verlag kostenfrei Volltext |
| spellingShingle | Furceri, Davide The Effects of Fiscal Policy on Output A DSGE Analysis Economics |
| title | The Effects of Fiscal Policy on Output A DSGE Analysis |
| title_alt | Les effets de la politique budgétaire sur la production |
| title_auth | The Effects of Fiscal Policy on Output A DSGE Analysis |
| title_exact_search | The Effects of Fiscal Policy on Output A DSGE Analysis |
| title_exact_search_txtP | The Effects of Fiscal Policy on Output A DSGE Analysis |
| title_full | The Effects of Fiscal Policy on Output A DSGE Analysis Davide Furceri and Annabelle Mourougane = Les effets de la politique budgétaire sur la production : une analyse à partir d'un modèle DSGE / Davide Furceri et Annabelle Mourougane |
| title_fullStr | The Effects of Fiscal Policy on Output A DSGE Analysis Davide Furceri and Annabelle Mourougane = Les effets de la politique budgétaire sur la production : une analyse à partir d'un modèle DSGE / Davide Furceri et Annabelle Mourougane |
| title_full_unstemmed | The Effects of Fiscal Policy on Output A DSGE Analysis Davide Furceri and Annabelle Mourougane = Les effets de la politique budgétaire sur la production : une analyse à partir d'un modèle DSGE / Davide Furceri et Annabelle Mourougane |
| title_short | The Effects of Fiscal Policy on Output |
| title_sort | the effects of fiscal policy on output a dsge analysis |
| title_sub | A DSGE Analysis |
| topic | Economics |
| topic_facet | Economics |
| url | https://doi.org/10.1787/5kmfp4z3njg0-en |
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