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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| Corporate Author: | |
| Other Authors: | , |
| Format: | Electronic eBook |
| Language: | English |
| Published: |
[Washington, D.C.] :
International Monetary Fund,
©2012.
|
| Series: | IMF working paper ;
WP/12/286. |
| Subjects: | |
| Online Access: | DE-862 DE-863 |
| Summary: | 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. |
| Item Description: | Title from PDF title page (IMF Web site, viewed December 6, 2012). "Fiscal Affairs Department." "December 2012." |
| Physical Description: | 1 online resource (31 pages) |
| Bibliography: | Includes bibliographical references. |
| ISBN: | 9781589063891 1589063899 1475523920 9781475523928 1475565828 9781475565829 1475588003 9781475588002 |
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MARC
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| 245 | 1 | 0 | |a Fiscal multipliers and the state of the economy / |c prepared by Anja Baum, Marcos Poplawski-Ribeiro, and Anke Weber. |
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| 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. | ||
| 650 | 0 | |a Multiplier (Economics) |0 http://id.loc.gov/authorities/subjects/sh85088384 | |
| 650 | 0 | |a Fiscal policy |z Developed countries. | |
| 650 | 6 | |a Multiplicateur (Économie politique) | |
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| 700 | 1 | |a Weber, Anke, |d 1981- |0 http://id.loc.gov/authorities/names/nr2006000888 | |
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| author | Baum, Anja, 1985- |
| author2 | Ribeiro, Marcos Poplawski, 1977- Weber, Anke, 1981- |
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| author_GND | http://id.loc.gov/authorities/names/no2012157826 http://id.loc.gov/authorities/names/no2008083080 http://id.loc.gov/authorities/names/nr2006000888 |
| author_corporate | International Monetary Fund |
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| contents | 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. 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. |
| ctrlnum | (OCoLC)821064563 |
| dewey-full | 338.5/4 |
| dewey-hundreds | 300 - Social sciences |
| dewey-ones | 338 - Production |
| dewey-raw | 338.5/4 |
| dewey-search | 338.5/4 |
| dewey-sort | 3338.5 14 |
| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
| format | Electronic eBook |
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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.</subfield></datafield><datafield tag="504" ind1=" " ind2=" "><subfield code="a">Includes bibliographical references.</subfield></datafield><datafield tag="500" ind1=" " ind2=" "><subfield code="a">"Fiscal Affairs Department."</subfield></datafield><datafield tag="500" ind1=" " ind2=" "><subfield code="a">"December 2012."</subfield></datafield><datafield tag="505" ind1="0" ind2=" "><subfield code="a">Cover; Contents; I. Introduction; II. 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| geographic | Developed countries fast |
| geographic_facet | Developed countries |
| id | ZDB-4-EBU-ocn821064563 |
| illustrated | Not Illustrated |
| indexdate | 2025-03-18T14:27:41Z |
| institution | BVB |
| institution_GND | http://id.loc.gov/authorities/names/n81052755 |
| isbn | 9781589063891 1589063899 1475523920 9781475523928 1475565828 9781475565829 1475588003 9781475588002 |
| language | English |
| oclc_num | 821064563 |
| open_access_boolean | |
| owner | MAIN DE-862 DE-BY-FWS DE-863 DE-BY-FWS |
| owner_facet | MAIN DE-862 DE-BY-FWS DE-863 DE-BY-FWS |
| physical | 1 online resource (31 pages) |
| psigel | ZDB-4-EBU FWS_PDA_EBU ZDB-4-EBU |
| publishDate | 2012 |
| publishDateSearch | 2012 |
| publishDateSort | 2012 |
| publisher | International Monetary Fund, |
| record_format | marc |
| series | IMF working paper ; |
| series2 | IMF working paper ; |
| spelling | Baum, Anja, 1985- http://id.loc.gov/authorities/names/no2012157826 Fiscal multipliers and the state of the economy / prepared by Anja Baum, Marcos Poplawski-Ribeiro, and Anke Weber. [Washington, D.C.] : International Monetary Fund, ©2012. 1 online resource (31 pages) text txt rdacontent computer c rdamedia online resource cr rdacarrier polychrome. rdacc http://rdaregistry.info/termList/RDAColourContent/1003 data file IMF working paper ; WP/12/286 Title from PDF title page (IMF Web site, viewed December 6, 2012). 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. Includes bibliographical references. "Fiscal Affairs Department." "December 2012." 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. 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. English. Multiplier (Economics) http://id.loc.gov/authorities/subjects/sh85088384 Fiscal policy Developed countries. Multiplicateur (Économie politique) Politique fiscale Pays industrialisés. BUSINESS & ECONOMICS Industries General. bisacsh Fiscal policy fast Multiplier (Economics) fast Developed countries fast Ribeiro, Marcos Poplawski, 1977- http://id.loc.gov/authorities/names/no2008083080 Weber, Anke, 1981- http://id.loc.gov/authorities/names/nr2006000888 International Monetary Fund. http://id.loc.gov/authorities/names/n81052755 has work: Fiscal multipliers and the state of the economy (Text) https://id.oclc.org/worldcat/entity/E39PCG9Q8RB69yfvTPYrVVCDHK https://id.oclc.org/worldcat/ontology/hasWork 1-58906-389-9 1-4755-6582-8 IMF working paper ; WP/12/286. http://id.loc.gov/authorities/names/no89010263 |
| spellingShingle | Baum, Anja, 1985- Fiscal multipliers and the state of the economy / IMF working paper ; 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. 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. Multiplier (Economics) http://id.loc.gov/authorities/subjects/sh85088384 Fiscal policy Developed countries. Multiplicateur (Économie politique) Politique fiscale Pays industrialisés. BUSINESS & ECONOMICS Industries General. bisacsh Fiscal policy fast Multiplier (Economics) fast |
| subject_GND | http://id.loc.gov/authorities/subjects/sh85088384 |
| title | Fiscal multipliers and the state of the economy / |
| title_auth | Fiscal multipliers and the state of the economy / |
| title_exact_search | Fiscal multipliers and the state of the economy / |
| title_full | Fiscal multipliers and the state of the economy / prepared by Anja Baum, Marcos Poplawski-Ribeiro, and Anke Weber. |
| title_fullStr | Fiscal multipliers and the state of the economy / prepared by Anja Baum, Marcos Poplawski-Ribeiro, and Anke Weber. |
| title_full_unstemmed | Fiscal multipliers and the state of the economy / prepared by Anja Baum, Marcos Poplawski-Ribeiro, and Anke Weber. |
| title_short | Fiscal multipliers and the state of the economy / |
| title_sort | fiscal multipliers and the state of the economy |
| topic | Multiplier (Economics) http://id.loc.gov/authorities/subjects/sh85088384 Fiscal policy Developed countries. Multiplicateur (Économie politique) Politique fiscale Pays industrialisés. BUSINESS & ECONOMICS Industries General. bisacsh Fiscal policy fast Multiplier (Economics) fast |
| topic_facet | Multiplier (Economics) Fiscal policy Developed countries. Multiplicateur (Économie politique) Politique fiscale Pays industrialisés. BUSINESS & ECONOMICS Industries General. Fiscal policy Developed countries |
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