| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP9010 |
| DP9010 What Determines Government Spending Multipliers? | |
| Giancarlo Corsetti; Gernot Müller; André Meier | |
| 发表日期 | 2012-03-10 |
| 出版年 | 2012 |
| 语种 | 英语 |
| 摘要 | This paper studies how the effects of government spending vary with the economic environment. Using a panel of OECD countries, we identify fiscal shocks as residuals from an estimated spending rule and trace their macroeconomic impact under different conditions regarding the exchange rate regime, public indebtedness, and health of the financial system. The unconditional responses to a positive spending shock broadly confirm earlier findings. However, conditional responses differ systematically across exchange rate regimes, as real appreciation and external deficits occur mainly under currency pegs. We also find output and consumption multipliers to be unusually high during times of financial crisis. |
| 主题 | International Macroeconomics |
| 关键词 | Exchange rate regime Financial crisis Fiscal policy Fiscal rules Government spending Multiplier Public finances |
| URL | https://cepr.org/publications/dp9010 |
| 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/537753 |
| 推荐引用方式 GB/T 7714 | Giancarlo Corsetti,Gernot Müller,André Meier. DP9010 What Determines Government Spending Multipliers?. 2012. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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