Estimating Fiscal Multipliers
News from a Non‐linear World
Bibliographic Data
| ID | 9705394 |
|---|---|
| Authors | Giovanni Caggiano (0000-0003-2054-3304, University of Padua), Efrem Castelnuovo (0000-0003-1516-3868, University of Melbourne and University of Padova), Valentina Colombo (0000-0003-2240-1190, University of Padua), Gabriela Nodari (0000-0002-2106-8587, University of Verona and University of New South Wales) |
| Year | 2015 |
| Volume | 125 |
| Issue | 584 |
| Pages | 746-776 |
| Publication date | 2015-05-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | The Economic Journal (JOURNAL) |
| Journal identifiers | ISSN: 0013-0133 • E-ISSN: 1468-0297 |
| Publisher | Oxford University Press (OUP) (PUBLISHER) |
| DOI | 10.1111/ecoj.12263 |
| OpenAlex | W3121351758 |
| Language | EN |
| Citations received | 22 |
| References cited | 47 |
We estimate non-linear VARs to assess to what extent fiscal spending multipliers are countercyclical in the US. We deal with the issue of non-fundamentalness due to fiscal foresight by appealing to sums of revisions of expectations of fiscal expenditures. This measure of anticipated fiscal shocks is shown to carry valuable information about future dynamics of public spending. Results based on generalised impulse responses suggest that fiscal spending multipliers in recessions are greater than one, but not statistically larger than those in expansions. However, non-linearities arise when focusing on 'extreme' events, that is, deep recessions versus strong expansionary periods
Econometrics · Economics · Keynesian economics · Macroeconomics · Fiscal Policies and Political Economy · Fiscal Policy and Economic Growth · Monetary Policy and Economic Impact
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| Unique citing works | 22 |
|---|---|
| Citations per year | 2,44 |
| Citation span | 2017 - 2026 (10) |
| Citation velocity | current |
| Highly cited | No |
| Citation types | Neutral: 22 |