Fiscal Multipliers in Bulgaria: Low But Still Relevant
With fiscal adjustment proceeding quickly in Bulgaria and given the weak economic growth environment, there is keen interest in making the budget composition more growth friendly. This paper quantifies the short-term impact of fiscal policy on economic activity in Bulgaria using econometric and mode...
Gespeichert in:
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
International Monetary Fund
2013
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| Schriftenreihe: | IMF Working Papers
Working Paper No. 13/49 |
| Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
| Zusammenfassung: | With fiscal adjustment proceeding quickly in Bulgaria and given the weak economic growth environment, there is keen interest in making the budget composition more growth friendly. This paper quantifies the short-term impact of fiscal policy on economic activity in Bulgaria using econometric and model-based approaches. While fiscal multipliers have been modest in the past, as can be expected in a small open emerging economy, the effect on output is not independent of the speed of adjustment and the specific consolidation measures used. The impact of fiscal policy on economic activity is larger in downturns than in expansions and capital spending and direct taxes are associated with the largest effects on output, while non-targeted government transfers and indirect taxes are associated with a smaller impact. The results suggest that increased capital spending financed by higher indirect tax revenue collections through base broadening has sizeable growth effects over the medium and long-term |
| Beschreibung: | 1 Online-Ressource (19 p) |
| ISBN: | 1475560478 9781475560473 |
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| index_date | 2024-07-03T20:13:15Z |
| indexdate | 2024-07-10T09:35:23Z |
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| spelling | Muir, Dirk Verfasser aut Fiscal Multipliers in Bulgaria Low But Still Relevant Muir, Dirk Washington, D.C International Monetary Fund 2013 1 Online-Ressource (19 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 13/49 With fiscal adjustment proceeding quickly in Bulgaria and given the weak economic growth environment, there is keen interest in making the budget composition more growth friendly. This paper quantifies the short-term impact of fiscal policy on economic activity in Bulgaria using econometric and model-based approaches. While fiscal multipliers have been modest in the past, as can be expected in a small open emerging economy, the effect on output is not independent of the speed of adjustment and the specific consolidation measures used. The impact of fiscal policy on economic activity is larger in downturns than in expansions and capital spending and direct taxes are associated with the largest effects on output, while non-targeted government transfers and indirect taxes are associated with a smaller impact. The results suggest that increased capital spending financed by higher indirect tax revenue collections through base broadening has sizeable growth effects over the medium and long-term Online-Ausg Weber, Anke Sonstige oth http://elibrary.imf.org/view/IMF001/20296-9781475560473/20296-9781475560473/20296-9781475560473.xml Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Muir, Dirk Fiscal Multipliers in Bulgaria Low But Still Relevant |
| title | Fiscal Multipliers in Bulgaria Low But Still Relevant |
| title_auth | Fiscal Multipliers in Bulgaria Low But Still Relevant |
| title_exact_search | Fiscal Multipliers in Bulgaria Low But Still Relevant |
| title_exact_search_txtP | Fiscal Multipliers in Bulgaria Low But Still Relevant |
| title_full | Fiscal Multipliers in Bulgaria Low But Still Relevant Muir, Dirk |
| title_fullStr | Fiscal Multipliers in Bulgaria Low But Still Relevant Muir, Dirk |
| title_full_unstemmed | Fiscal Multipliers in Bulgaria Low But Still Relevant Muir, Dirk |
| title_short | Fiscal Multipliers in Bulgaria |
| title_sort | fiscal multipliers in bulgaria low but still relevant |
| title_sub | Low But Still Relevant |
| url | http://elibrary.imf.org/view/IMF001/20296-9781475560473/20296-9781475560473/20296-9781475560473.xml |
| work_keys_str_mv | AT muirdirk fiscalmultipliersinbulgarialowbutstillrelevant AT weberanke fiscalmultipliersinbulgarialowbutstillrelevant |