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Fiscal Policy for the Crisis

Fiscal Policy for the Crisis »

Source: Fiscal Policy for the Crisis

Volume/Issue: 2008/01

Series: IMF Staff Position Notes

Author(s): Antonio Spilimbergo , Steven Symansky , Carlo Cottarelli , and Olivier Blanchard

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 January 2009

ISBN: 9781589067981

Keywords: Fiscal policy, fiscal stimulus, aggregate demand, interest rates, fiscal multipliers

The current crisis calls for two main sets of policy measures. First, measures to repair the financial system. Second, measures to increase demand and restore confidence. While some of these measures overlap, the f...

The Impact of Fiscal Consolidations on Growth in Sub-Saharan Africa

The Impact of Fiscal Consolidations on Growth in Sub-Saharan Africa »

Source: The Impact of Fiscal Consolidations on Growth in Sub-Saharan Africa

Volume/Issue: 2017/281

Series: IMF Working Papers

Author(s): Francisco Arizala , Jesus Gonzalez-Garcia , Charalambos Tsangarides , and Mustafa Yenice

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 December 2017

ISBN: 9781484333112

Keywords: Africa, Africa, Growth, fiscal consolidations, fiscal multipliers, local projections, General

This paper examines the output effects of changes in public expenditure and revenue in sub-Saharan African countries during 1990-2016. Fiscal multipliers in sub-Saharan Africa are somewhat smaller than those in adv...

Fiscal Spillovers in the Euro Area: Letting the Data Speak

Fiscal Spillovers in the Euro Area: Letting the Data Speak »

Source: Fiscal Spillovers in the Euro Area: Letting the Data Speak

Volume/Issue: 2017/241

Series: IMF Working Papers

Author(s): Era Dabla-Norris , Pietro Dallari , and Tigran Poghosyan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 November 2017

ISBN: 9781484328262

Keywords: Fiscal Spillovers; Bayesian Methods; Fiscal Multipliers, Panel VAR, Fiscal Spillovers, Bayesian Methods, Fiscal Multipliers, Bayesian Analysis, Models with Panel Data

We estimate a panel VAR model that captures cross-country, dynamic interlinkages for 10 euro area countries using quarterly data for the period 1999-2016. Our analysis suggests that fiscal spillovers are significan...

Fiscal Multipliers

Fiscal Multipliers »

Source: Fiscal Multipliers : Size, Determinants, and Use in Macroeconomic Projections

Volume: 14

Series: Technical Notes and Manuals

Author(s): Nicoletta Batini , Luc Eyraud , Lorenzo Forni , and Anke Weber

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 October 2014

ISBN: 9781498382458

Keywords: Fiscal policy, fiscal multipliers, fiscal shocks, fiscal shock, fiscal measures, General,

Fiscal multipliers are important tools for macroeconomic projections and policy design. In many countries, little is known about the size of multipliers, as data availability limits the scope for empirical research...

Fiscal Adjustment in the Gulf Countries: Less Costly than Previously Thought

Fiscal Adjustment in the Gulf Countries: Less Costly than Previously Thought »

Source: Fiscal Adjustment in the Gulf Countries: Less Costly than Previously Thought

Volume/Issue: 2018/133

Series: IMF Working Papers

Author(s): Armand Fouejieu , Sergio Rodriguez , and Sohaib Shahid

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 June 2018

ISBN: 9781484361573

Keywords: Economic growth, Government expenditures, Fiscal policy, Fiscal policy, Fiscal stimulus and multipliers, Gulf Cooperation Council (GCC), Fiscal Multiplier, GCC, General, Asia including Middle East

This paper estimates fiscal multipliers for the Gulf Cooperation Council (GCC) countries. Using OLS panel fixed effects on a sample of six countries from 1990-2016, results indicate that GCC fiscal multipliers have...

Fiscal Policy Effectiveness in a Small Open Economy

Fiscal Policy Effectiveness in a Small Open Economy »

Source: Fiscal Policy Effectiveness in a Small Open Economy : Estimates of Tax and Spending Multipliers in Paraguay

Volume/Issue: 2017/63

Series: IMF Working Papers

Author(s): Antonio David

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 March 2017

ISBN: 9781475588262

Keywords: Paraguay, Fiscal policy, Western Hemisphere, Fiscal Multipliers, Local Projection Method, General, Macroeconomic Analyses of Economic Development

This paper presents estimates of fiscal multipliers in Paraguay following different econometric techniques and identification approaches. The results point to multipliers for capital expenditure that are substantia...

Fiscal Multipliers

Fiscal Multipliers »

Source: Fiscal Multipliers

Volume/Issue: 2009/11

Series: IMF Staff Position Notes

Author(s): Antonio Spilimbergo , Martin Schindler , and Steven Symansky

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 May 2009

ISBN: 9781462372737

Keywords: Cross country analysis, Capital markets, Consumption, Budget deficits, Fiscal sustainability, Fiscal policy, Government expenditures, Interest rates, Private savings, Taxes

...

Estimating Fiscal Multipliers with Correlated Heterogeneity*

Estimating Fiscal Multipliers with Correlated Heterogeneity* »

Source: Estimating Fiscal Multipliers with Correlated Heterogeneity

Volume/Issue: 2016/13

Series: IMF Working Papers

Author(s): Emmanouil Kitsios , and Manasa Patnam

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 February 2016

ISBN: 9781498389808

Keywords: Panel analysis, Economic theory, Fiscal policy, Government expenditures, Economic growth, Fiscal Multipliers, Nonseparable Unobserved Heterogeneity, Oil Price, Models with Panel Data

We estimate the average fiscal multiplier, allowing multipliers to be heterogeneous across countries or over time and correlated with the size of government spending. We demonstrate that this form of nonseparable u...

Empirical Estimation of Fiscal Multipliers in MENA Oil-Exporting Countries with an Application to Algeria

Empirical Estimation of Fiscal Multipliers in MENA Oil-Exporting Countries with an Application to Algeria »

Source: Empirical Estimation of Fiscal Multipliers in MENA Oil-Exporting Countries with an Application to Algeria

Volume/Issue: 2018/124

Series: IMF Working Papers

Author(s): Maria Elkhdari , Moez Souissi , and Andrew Jewell

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 31 May 2018

ISBN: 9781484357972

Keywords: Algeria, Middle East, Fiscal policy; State-dependent multipliers; Output gap; Spending direction; Algeria; Structural Vector Autoregressive Model; Local Projection Methodology, Fiscal policy, State-dependent multipliers, Output gap, Spending direction, Structural Vector Autoregressive Model, Local Projection Methodology, Model Construction and Estimation

At a time when Algeria must undertake considerable fiscal consolidation to restore sustainability, the issue of fiscal multipliers has come to the fore. This paper estimates short-term and long-term fiscal multipli...

Credit and Fiscal Multipliers in China

Credit and Fiscal Multipliers in China »

Source: Credit and Fiscal Multipliers in China

Volume/Issue: 2017/273

Series: IMF Working Papers

Author(s): Sophia Chen , Lev Ratnovski , and Pi-Han Tsai

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 December 2017

ISBN: 9781484332160

Keywords: Asia and Pacific, China, Macroprudential Policy, Fiscal stimulus, Credit Growth, Multipliers, Comparative or Joint Analysis of Fiscal and Monetary or Stabilization Policy, General, Size and Spatial Distributions of Regional Economic Activity

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 prov...