| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP8517 |
| DP8517 Country Heterogeneity and the International Evidence on the Effects of Fiscal Policy | |
| Francesco Giavazzi; Carlo A. Favero; Jacopo Perego | |
| 发表日期 | 2011-08-01 |
| 出版年 | 2011 |
| 语种 | 英语 |
| 摘要 | This paper shows how the richer frequency and variety of fiscal policy shocks available in an international sample can be analyzed recognizing the heterogeneity that exists across different countries. The main conclusion of our empirical analysis is that the question 'what is the fiscal policy multiplier' is an ill-posed one. There is no unconditional fiscal policy multiplier. The effect of fiscal policy on output is different depending on the different debt dynamics, the different degree of openness and the different fiscal reaction functions across different countries. There are many fiscal multipliers and an average fiscal multiplier is of very little use to describe the effect of exogenous shifts in fiscal policy on output. |
| 主题 | International Macroeconomics |
| 关键词 | Fiscal policy Public debt Government budget constraint Global var models |
| URL | https://cepr.org/publications/dp8517 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/537351 |
| 推荐引用方式 GB/T 7714 | Francesco Giavazzi,Carlo A. Favero,Jacopo Perego. DP8517 Country Heterogeneity and the International Evidence on the Effects of Fiscal Policy. 2011. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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