Growth Forecast Errors and Fiscal Multipliers:
This paper investigates the relation between growth forecast errors and planned fiscal consolidation during the crisis. We find that, in advanced economies, stronger planned fiscal consolidation has been associated with lower growth than expected, with the relation being particularly strong, both st...
Gespeichert in:
1. Verfasser: | |
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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. 13/1 |
Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
Zusammenfassung: | This paper investigates the relation between growth forecast errors and planned fiscal consolidation during the crisis. We find that, in advanced economies, stronger planned fiscal consolidation has been associated with lower growth than expected, with the relation being particularly strong, both statistically and economically, early in the crisis. A natural interpretation is that fiscal multipliers were substantially higher than implicitly assumed by forecasters. The weaker relation in more recent years may reflect in part learning by forecasters and in part smaller multipliers than in the early years of the crisis |
Beschreibung: | 1 Online-Ressource (43 p) |
ISBN: | 1475576447 9781475576443 |
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spelling | Blanchard, Olivier J. Verfasser aut Growth Forecast Errors and Fiscal Multipliers Blanchard, Olivier J Washington, D.C International Monetary Fund 2013 1 Online-Ressource (43 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 13/1 This paper investigates the relation between growth forecast errors and planned fiscal consolidation during the crisis. We find that, in advanced economies, stronger planned fiscal consolidation has been associated with lower growth than expected, with the relation being particularly strong, both statistically and economically, early in the crisis. A natural interpretation is that fiscal multipliers were substantially higher than implicitly assumed by forecasters. The weaker relation in more recent years may reflect in part learning by forecasters and in part smaller multipliers than in the early years of the crisis Online-Ausg Leigh, Daniel Sonstige oth http://elibrary.imf.org/view/IMF001/20181-9781475576443/20181-9781475576443/20181-9781475576443.xml Verlag URL des Erstveröffentlichers Volltext |
spellingShingle | Blanchard, Olivier J. Growth Forecast Errors and Fiscal Multipliers |
title | Growth Forecast Errors and Fiscal Multipliers |
title_auth | Growth Forecast Errors and Fiscal Multipliers |
title_exact_search | Growth Forecast Errors and Fiscal Multipliers |
title_exact_search_txtP | Growth Forecast Errors and Fiscal Multipliers |
title_full | Growth Forecast Errors and Fiscal Multipliers Blanchard, Olivier J |
title_fullStr | Growth Forecast Errors and Fiscal Multipliers Blanchard, Olivier J |
title_full_unstemmed | Growth Forecast Errors and Fiscal Multipliers Blanchard, Olivier J |
title_short | Growth Forecast Errors and Fiscal Multipliers |
title_sort | growth forecast errors and fiscal multipliers |
url | http://elibrary.imf.org/view/IMF001/20181-9781475576443/20181-9781475576443/20181-9781475576443.xml |
work_keys_str_mv | AT blanchardolivierj growthforecasterrorsandfiscalmultipliers AT leighdaniel growthforecasterrorsandfiscalmultipliers |